Eletrobras Privatization Wins Approval of Brazil’s Audit Court
- Government seeks about $13.5 billion for its Eletrobas stake
- Opposition leader Lula has pledged to halt the sale if elected
This article is for subscribers only.
Eletrobras’s shares were among the best performers on the Sao Paulo stock exchange after Brazil’s audit court gave the government the green light to privatize the giant power generator.
Shares of the utility, formally known as Centrais Eletricas Brasileiras SA and which generates about 30% of all electricity in Brazil, gained about 2.5% in early trading on Thursday, contributing to a rise in the benchmark Ibovespa index.