Brazilian giant Eletrobras will stop auctioning in 71 companies In the world



Photo: Courtesy

Photo: Courtesy

2001.com.ve | EFE

The electric giant Eletrobras, largest company in the sector Latin America and checked by the Brazilian state, will auction its participation in 71 companies of generation and transmission of energy on 27 September Brazil, informed the state today.

The process of selling assets in which Eletrobras has both majority and minority interests approved by the executive management of the state at its meeting on Monday evening, according to a statement to the stock market. Sao Paulo.

The participations, mainly in wind energy companies and transmission lines, were divided into 18 different lots that Eletrobras will award to the highest bidder in the auction that will take place on 27 September at the fair. Sao Paulo.

The state-owned company, which has hired Credit Suisse bank to give advice on the sales process, expects to receive a minimum value of 3,100 million reais (about 794.9 million dollars) for its participation in the 18 lots of assets.

Eight of the lots group participations 59 companies for wind production with an added installed capacity of 1,605 megawatts and the other ten collect shares in transport companies operating lines with 2,910 kilometers in length.

The most expensive asset, for which a minimum price of 635.6 million reals (about USD 162.9 million) was set, is the 78% interest in the generator Santa Vitoria do Palmar, a company that operates ten wind farms in the southern state of Rio Grande do Sul.

"The transaction is intended to enable Eletrobras and its subsidiaries to reduce their exposure to debt and their liquid debt to the level normally used by the market," said the company's statement.

The sale of the shares, according to the statement, is "one of the five pillars" of the Business management and business management plan for the quinquennium 2018-2022.

The sale of the shares of the company in the calls Specific target groups (SPE) does not require consent from the Congress, just like the privatization of Eletrobras itself, announced two years ago by the Brazilian president Michel Temer, but who is paralyzed by political opposition to the trial.

The Temer government regards the privatization of Eletrobras as essential for clearing the country's deficit reputation and attracting investments in the sector, but sales are being criticized by various political parties, mainly from the left, as well as by trade unions and civil entities.

The privatization of Eletrobras would mean an income for the public treasury of at least 12,000 million reais (about 3,076 million dollars).

According to several analysts, privatization will have to be postponed for next year and will depend on the outcome of the presidential election of next October of which the winner will take over the government in January 2019.

For the time being, Congress approved only the sale of six small distributors who were subsidiaries of Eletrobras

Eletrobras already auctioned the power distributor in the northeastern state of Piauí, Cepisa (Centrales Eléctricas de Piauí) last July, which was acquired by the Brazilian company Equatorial Energía, the only participant in the bid.

The state-owned company plans to control Ceron (Amazonas Energía), the Rondonia Power Plants, Eletroacre (Acre Electricity Company) and Boa Vista Energía, which are in the state of Roraima.

The sale date of Ceal (Centrales Eléctricas de Alagoas), one of the other distributors that will be privatized, has not yet been established due to legal obstacles.

Eletrobras It is the largest group for electric generations from Latin America, with an installed capacity equal to one third of the total of the country, and leader in transmission, with approximately 61,000 kilometers of lines.

2018/08/21

To keep up to date, follow our channel on Telegram https://t.me/Diario2001Online


Source link

Leave a Reply