Shareholders approve Brazil’s Eletrobras privatization -report

Shareholders of Brazilian state-run power company Eletrobras (ELET6.SA) approved on Tuesday the terms for the privatization of the company, according to a Valor Economico report citing sources.

According to the report, the company’s shareholders approved 12 items at a general meeting, including its privatization.

Brazil’s government expects the privatization to happen through a share offering by mid-2022. Shares would be sold on Brazil’s Bovespa stock market and in the United States as American Depositary Receipts.

Reporting by Peter Frontini; editing by Richard Pullin via Reuters

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