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Financial News: ELETROBRAS: Lawmaker Presents Alternate Proposal For Asset

ELETROBRAS: Lawmaker Presents Alternate Proposal For Asset Sales

05/16/2018 - 18:11:00 (RTTNews)

(RTTNews) - The government's vice-leader in the Brazilian House of Representatives, Leonardo Quintio, presented an alternate proposal regarding the privatization of the state-owned energy company Eletrobras.

According to his plan, instead of selling new shares to the point that the Brazilian government loses its controlling stake in the company, Eletrobras would list four of its subsidiaries - Furnas, Companhia Hidro Eletrica do Sio Francisco (Chesf), Eletronorte and Eletrosul - and sell minority stakes in each one of them.

Lawmakers and energy sector specialists believe that Quintio's proposal would be more profitable and less politically exhausting to the government.

The Brazilian Finance Minister, Eduardo Guardia, was informed of the proposal and said that he and his team would evaluate the plan "in the next few days."

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