Investors in Brazil’s state-controlled power utility Eletrobras are waiting for a key ruling that could allow the government to move forward with the company’s long-awaited privatization plan.
President Jair Bolsonaro’s administration is seeking to privatize Eletrobras through a capital increase in which the state’s stake would end up diluted, effectively giving up control of the Rio de Janeiro-based firm while retaining some veto rights. Lawmakers approved the sale process last year, but Brazil’s audit court still needs to green-light it. TCU, as the court is known, is scheduled to discuss the topic Wednesday, including the minimum price for the ...
