Key Developments: Centrais Eletricas Brasileiras SA (EBR)
2.54USD
17 May 2013
$0.00 (+0.00%)
$2.54
$2.65
$2.76
$2.51
1,951,507
1,246,630
$8.10
$2.28
Latest Key Developments (Source: Significant Developments)
Cade Approves Centrais Eletricas Brasileiras SA's Acquisition of 51% Stake in Celg Distribuicao SA
Centrais Eletricas Brasileiras SA announced that the Administrative Council for Economic Defense Cade approved the acquisition by the Company of a 51% stake in the share capital of Celg Distribuicao SA held by Companhia Celg de Participacoes Celgpar. The Company will keep the market updated on the issue. Full Article
Centrais Eletricas Brasileiras SA To Cut 5,000 Jobs-Reuters
Reuters reported that Centrais Eletricas Brasileiras SA plans to spend BRL1.4 billion ($706 million) to cut 5,000 jobs as it embarks on a one-year reorganization of money-losing units aimed at slashing costs in the face of rate cuts, company officials said. The cost of the voluntary retirement program, which aims to cut the electricity company's 28,000 person workforce by 18%, will fall during 2013 with benefits being realized in 2013 and 2014, Jose da Costa Carvalho Neto, Chief Executive of the utility formally known as Centrais Eletricas Brasileiras SA. Full Article
Centrais Eletricas Brasileiras SA's Wholly Owned Subsidiary Establishes Wholly Owned Subsidiary
Centrais Eletricas Brasileiras SA announced that its wholly owned subsidiary Amazonas Distribuidora de Energia SA (Amazonas Energia) approved the establishment of a wholly owned subsidiary in order to segregate its assets and operations of generation, transmission and distribution. This operation is subject to regulatory approvals. Full Article
Centrais Eletricas Brasileiras SA Announces Own Capital Interest Payment
Centrais Eletricas Brasileiras SA announced the payment of own capital interest at the value of BRL 0.399210837 per ordinary share, BRL 2.178256581 per preferred A share and BRL 1.633692440 per preferred B share. Record date is April 30, 2013. Payment will be done by December 31, 2013. Full Article
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA Updates on Dispute with Eletrobras - Centrais Eletricas Brasileiras SA and Companhia de Transmissao de Energia Eletrica Paulista
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA (AES Eletropaulo) announced that, in context of a dispute over the loan contract signed on October 30, 1986, between the Company and CTEEP Companhia de Transmissao de Energia Eletrica Paulista, the Court of Justice of Rio de Janeiro has fully annulled a decision of the first instance. Thus, the process must be restarted in one instance to proceed with the analysis of the technical and legal issues, as well as to realize the accounting expertise. At the end of this procedure, there should be issued a new decision, which will indicate the responsible one and the amount due to Eletrobras - Centrais Eletricas Brasileiras SA. Full Article
Centrais Eletricas Brasileiras SA's Subsidiary Approves Merger by Incorporation of Artemis Transmissora de Energia SA
Centrais Eletricas Brasileiras SA announced that following the information disclosed to the market on January 31, 2011, its subsidiary Eletrosul Centrais Eletricas SA approved on January 11, 2013 approved the merger by incorporation of Artemis Transmissora de Energia SA. The Company is a holder of a 99.75% stake in the share capital of Eletrosul. Full Article
Centrais Eletricas Brasileiras SA Announces BRL 3.6 Billion Financing from Caixa Economica Federal
Centrais Eletricas Brasileiras SA (Eletrobras) announced that on December 21, 2012 it signed a financing contract with Caixa Economica Federal in the amount of BRL 3.8 billion for the acquisition of machinery, imported equipment and providing imported services aimed at the construction of Thermonuclear Plant Angra 3. Full Article
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA Announces Court's Decision on Its Dispute With Centrais Eletricas Brasileiras SA and Companhia de Transmissao de Energia Eletrica Paulista
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA (AES Eletropaulo) announced that on November 14, 2012 the District Court in Rio de Janeiro published a decision concerning a dispute between Eletrobras - Centrais Eletricas Brasileiras SA (Eletrobras), AES Eletropaulo and Companhia de Transmissao de Energia Eletrica Paulista (CTEEP), in regard to the payment of a balance from the loan contract between Eletrobras and Eletropaulo - Eletricidade de Sao Paulo SA signed on October 30, 1986. The Court stated that AES Eletropaulo was fully responsible for paying the difference from the balance correction of the credit agreement. The estimated value of the balance amounts to BRL 1.3 billion. AES Eletropaulo will appeal for the suspension and cancellation of this decision. Full Article
Centrais Eletricas Brasileiras SA to Acquire Control Stake in Companhia Energetica de Roraima
Centrais Eletricas Brasileiras SA (Eletrobras) announced that on November 26, 2012 it signed a protocol of intentions aimed at the Company’s participation in the financial restructuring process of Companhia Energetica de Roraima (CERR) by means of acquisition of a control stake in CERR. Eletrobras and the state of Roraima will initially conclude a shareholders’ agreement and management agreement aimed at the economic and financial recovery of CERR which after the implementation of all terms predicts the purchase of Eletrobras of a control stake in CERR. Full Article
Centrais Eletricas Brasileiras SA to Acquire Control Stake in Companhia de Eletricidade do Amapa – CEA
Centrais Eletricas Brasileiras SA Eletrobras) announced that on November 12, 2012 it signed a protocol of intentions aimed at the Company’s participation in the financial restructuring process of Companhia de Eletricidade do Amapa – CEA (CEA) by means of acquisition of a control stake in CEA. Eletrobras and the state of Amapa initially concluded a shareholders agreement and management agreement aimed at the economic and financial recovery of CEA which after the implementation of all terms and conditions predicts the purchase of Eletrobras of a control stake in CEA. Full Article
Brazil's Eletrobras to request gov't compensation by Sept -CEO
SAO PAULO, May 17 - Brazilian state-led electric utility Centrais Elétricas Brasileiras SA will present the government with a request for additional compensation linked to the renewal of transmission concessions by September, Chief Financial Officer Armando Casado de Araujo said on Friday.
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