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Eletrobras Stock Sale Said to Lure $2.7 Billion in Early Talks

  • The equity offering is set to formally start in coming days
  • Sale could lead to privatization of state-controlled utility
Eletrobras’ Furnas hydroelectric dam in Furnas, Minas Gerais state, Brazil, in June 2021.

Eletrobras’ Furnas hydroelectric dam in Furnas, Minas Gerais state, Brazil, in June 2021.

Photographer: Jonne Roriz/Bloomberg

Investors have signaled early interest in scooping up about 13 billion reais ($2.7 billion) in shares of Brazilian power generation giant Eletrobras, in what’s expected to be one of the country’s largest equity offerings on record, according to people familiar with the matter.

The transaction is poised to formally launch in coming days, but banks already have started reaching out to potential buyers for what’s likely to become a much larger deal, the people said, asking not to be named discussing the confidential process. A successful offering would privatize the government-controlled utility, formally known as Centrais Eletricas Brasileiras SA.