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Shareholders approve Brazil’s Eletrobras privatization

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© Reuters. FILE PHOTO : Eletrobras’ logo is seen on the New York Stock Exchange floor (NYSE), in New York on April 9, 2019. REUTERS/Brendan McDermid

SAO PAULO – Brazilian state-run energy company Eletrobras approved the terms of privatization on Tuesday, according to a Valor Economico Report citing sources.

The report states that 12 items were approved by shareholders at the general meeting of the company, which included privatization.

Brazil’s government anticipates that the privatization will take place through an offering of shares by mid-2022. The shares would be traded on Brazil’s stock exchange and the United States through American Depositary Receipts.

Eletrobras refused to speak because of the inevitability that Eletrobras was still at work.

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