November 6, 2017 / 9:47 PM / 9 months ago

Brazil's Eletrobras to issue new shares in H2 2018 as part of privatization

RIO DE JANEIRO, Nov 6 (Reuters) - Brazil’s state-run power company Centrais Eletricas Brasileiras SA will issue new shares in the second half of 2018 as part of the plan to dilute the government’s stake and privatize the company, an executive said on Monday.

President Wilson Ferreira Jr confirmed that the company, known as Eletrobras, will be privatized by the passage of a law in Congress and that the government would continue to hold a “golden share” in the company. (Reporting by Rodrigo Viga Gaier; Writing by Jake Spring)

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