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Financial News: ELETROBRAS: Firm Hopes To Sell Power Distribution Subsidia

ELETROBRAS: Firm Hopes To Sell Power Distribution Subsidiaries By July

05/30/2018 - 18:54:00 (RTTNews)

(RTTNews) - Eletrobras hopes to sell six power transmission subsidiaries by the end of July, when their operating licenses are set to expire, said Wilson Ferreira Junior, the state-owned company president.

He added that the sale of those subsidiaries is still contingent to a decision from the Brazilian Court of Auditors (TCU) about the lawfulness of the transaction.

"It is a normal process, of checking the sale rules, and we believe that a month after we release those rules we would be able to start the auction," he said.

Ferreira Jinior said that Eletrobras might have to ask for extended operating licenses to manage the power transmission subsidiaries until they are finally transferred to the new owners. "We may need that adjustment."

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