August 13, 2019 / 8:02 PM / 2 months ago

CEO expects Brazil's power holding Eletrobras to be privatized next year

FILE PHOTO: The logo for Eletrobras, a Brazilian electric utilities company, is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid

SAO PAULO (Reuters) - The CEO of Brazil’s state-controlled power holding Centrais Eletricas Brasileiras SA (ELET6.SA) expects the government to privatize the company through a share offering after February next year.

In conference calls with analysts and reporters, Wilson Ferreira Jr. said the decision on the privatization will be taken this year, and he does not expect the government to demand a “golden share” in the company after its privatization, since the power industry is heavily regulated in Brazil.

Ferreira also said he expects to sell all the stakes in windfarms and transmission companies Eletrobras has put on the block by November.

Reporting by Luciano Costa; Writing by Tatiana Bautzer; Editing by Sandra Maler

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