April 17, 2018 / 7:02 PM / 3 days ago

Brazil looking to privatize Eletrobras via share offering -minister

BRASILIA, April 17 (Reuters) - The Brazilian government will seek congressional approval for the privatization of utility Centrais Eletricas Brasileiras SA, known as Eletrobras, via a share offering instead of an outright sale, its political affairs minister said on Tuesday.

Minister Carlos Marun said the dilution of state control of Brazil’s largest utility would be done by decree or some other executive measure that does not require the passage of a new law. The government has hoped to raise 12 billion reais ($3.5 billion) from the privatization. ($1 = 3.4027 reais) (Reporting by Anthony Boadle)

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