Reporting by Leticia Fucuchima
EnergiesNet.com 05 16 2023
Brazilian Mines and Energy Minister Alexandre Silveira said on Monday that a re-nationalization of power firm Eletrobras , which went private last year, is not on the agenda.
Talking in an event in Sao Paulo, Silveira said that the government President Luiz Inacio Lula da Silva – which still holds a large non-controlling stake – had at first considered reversing the privatization, but decided against it.
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Silveira said a debate over re-nationalizing the firm ad been defeated and that the government had decided on a “second path,” referring to the government’s request the Supreme Court grant it voting power proportional to its stake in the company.
Brazil owns 43% of Eletrobras’ common shares, after the previous government last year diluted its then-controlling stake in the firm in a $6.9 billion share offering.
A privatization law currently prohibits shareholders from exercising voting power greater than 10%.
reuters.com 05 15 2023