Project reduces Union participation in Eletrobras

In order to limit the Union's participation in Eletrobras, the government of President Jair Bolsonaro presented to the House of Representatives a privatization project that provides for a maximum of 10% of the company's common shares to the Union and new investors, with the right to Vote.

In parallel with the action, the Union would be aimed at strengthening r$ 16.2 billion, which would be the minimum that the company would need to raise with the stock offering to the market.

In addition, the federal government authorized the increase in Eletrobras' capital by up to R$ 9.9 billion, based on postponement made by the Union until 2016, in the amount of R$ 2.9 billion and R$ 301 million. In addition to attracting market interest, resources can also be used in part to pay dividends. In a conference with analysts in October, the president of Eletrobras, Wilson Ferreira Junior, said that the improvement of the balance sheet will also contribute to the privatization of the company.

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