Utility Giant CEO Sees Clear Path to Privatization in Brazil

Utility Giant CEO Sees Clear Path to Privatization in Brazil

Chamber Articles Category: Energy Post Date: 02/01/18 Source: Bloomberg By: Vanessa Dezem
Article Content

The chief executive officer of Brazil’s state-owned utility Eletrobras remains confident that a controversial plan to take the company private will succeed this year despite opposition from lawmakers and an upcoming presidential election.

Congress is well positioned to approve a bill by July to privatize Latin America’s largest power company, months in advance of October’s presidential election, Eletrobras’ Wilson Ferreira Jr. said in an interview. The company will hire banks in the second quarter to prepare for a public offering enabling Eletrobras to raise $3 billion to $4 billion by the second half of the year.

“We have a big chance to have this privatization this year -- we have enough time,” Ferreira said. Read Full Article