Brazil to cut stake in Eletrobras to 45% from 61% in privatization - energy secretary

SAO PAULO, Feb 24 (Reuters) - Brazil’s government will cut its stake in power company Centrais Eletricas Brasileiras SA , or Eletrobras, to 45% from its current 61% in a planned privatization process, a senior official in the Energy Ministry told Reuters on Wednesday.

The ministry’s Energy Secretary Rodrigo Limp said the government expects its stake in Eletrobras to double in value to 60 billion reais ($11 billion) with the share price rise that it expects privatization will bring.

President Jair Bolsonaro delivered a bill to Congress on Tuesday that will speed up divestiture in Brazil’s largest utility.

$1 = 5.4062 reais Reporting by Luciano Costa, Editing by Rosalba O’Brien