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Shareholders approve Brazil's Eletrobras privatization - report

Published 02/22/2022, 07:18 PM
Updated 02/22/2022, 07:22 PM
© Reuters. FILE PHOTO: The logo for Eletrobras, a Brazilian electric utilities company, is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid

SAO PAULO (Reuters) - Shareholders of Brazilian state-run power company Eletrobras approved on Tuesday the terms for the privatization of the company, according to a Valor Economico report citing sources.

According to the report, the company's shareholders approved 12 items at a general meeting, including its privatization.

Brazil's government expects the privatization to happen through a share offering by mid-2022. Shares would be sold on Brazil's Bovespa stock market and in the United States as American Depositary Receipts.

Eletrobras denied to comment, as the meeting had not yet been finalized.

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