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Brazil's govt to send Eletrobras privatization bill to Congress soon
November 15, 2017 / 4:18 PM / a month ago

Brazil's govt to send Eletrobras privatization bill to Congress soon

NEW YORK, Nov 15 (Reuters) - Brazil’s deputy Finance Minister Eduardo Guardia said on Wednesday the government expects to send a bill to privatize state-controlled utility Eletrobras to Congress next week.

Guardia said key details of the privatization process will be submitted to a shareholders meeting expected to take place next year. The Brazilian government plans to privatize the company through a share offering that will dillute its stake.

Voting rights will be limited to 10 percent for individual new investors, a way of ensuring Eletrobras will have dispersed share ownership after the privatization, Guardia said. (Reporting by Tatiana Bautzer; Editing by Christian Plumb and Chizu Nomiyama)

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