(Adds information from call with analysts, investors)
SAO PAULO, March 29 Brazil's state-controlled
power holding company Centrais Elétricas Brasileiras SA hired
financial advisers to help sell its stakes in some power
projects, Chief Executive Wilson Ferreira Jr. said on Wednesday.
Eletrobras, as the company is known, plans to
divest from some power generation and power transmission assets
in Brazil where it does not hold controlling stakes, as it tries
to reduce debt and free up cash to invest in other projects.
Ferreira told analysts on a conference call that the company
is preparing a plan to reduce its workforce. Eletrobras aims to
start a voluntary retirement program in April and is in talks
with the government regarding incentives for people to leave the
company, he said.
Ferreira said a decision by Brazil's electricity regulator
Aneel on Tuesday to ask the company to return 3.7 billion reais
($1.2 billion) to the government due to excessive subsidies is
not final and Eletrobras will discuss alternatives with Aneel.
In a securities filing Eletrobras said that holders of Class
A and B preferred shares will be paid a minimum 434 million
reais in dividends related to 2016 results.
($1 = 3.1174 reais)
(Reporting by Luciano Costa, Guillermo Parra-Bernal and Marcelo
Teixeira; Editing by Bill Trott)