Definition of de-nationalization of Eletrobras should leave in June

Eletrobras is getting closer to the denationalization. According to statements by the company’s president, Wilson Ferreira Jr., studies on the state’s sales process should be finalised by June, when they will define whether the largest electricity company in Latin America is privatized or capitalized.

“It has opened a period of evaluation of these alternatives. We are deepening studies and in June we must conclude. If we go to capitalization looking for elimination of hydrological risk, or if we go to a company sales program, “said Ferreira Jr., during the 5th Annual Forum of Corporates Brasil 2019 promoted by the credit rating agency Fitch Ratings in São Paulo.

If the decision comes out within the prescribed timeframe, the estimate is that Eletrobras goes to private initiative later this year or at the beginning of 2020, according to the president’s information. During pronation, Ferreira Jr. proved favorable to the capitalization process as a way to strengthen the State and to face the necessary investments in the sector.

The President of Eletrobras also commented on the sale of 40 SPE (companies of specific purpose) of which the company is a partner. The relationship between these companies must come out in May. The sale must be carried out in the first half of this year. The executive also spoke about the works of the hydroelectric power plants of the state, such as Jirau, Santo Antônio and Belo Monte, which end this year. The expectation is that the completion of the works drives the economic recovery of the company.

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