May 14, 2019 / 7:37 PM / a year ago

Brazil's Eletrobras plans sale of stakes in 45 companies in second half: CEO

FILE PHOTO: Wilson Ferreira Jr, Eletrobras' Chief Executive Officer, speaks during an interview with Reuters in Sao Paulo, Brazil, January 31, 2018. REUTERS/Nacho Doce/File Photo

SAO PAULO (Reuters) - Brazil’s state-controlled power holding company Centrais Eletricas Brasileiras SA plans to sell 45 stakes in companies, mostly windfarms, in the second half of the year, Chief Executive Officer Wilson Ferreira Jr. said on Tuesday.

In a conference call with analysts, Ferreira said the board is expected to approve the divestitures later this month. The stakes went unsold in an auction last year.

The executive said Eletrobras, as the company is known, will adopt a sales model similar to what state-controlled oil company Petroleo Brasileiro SA has been using.

Reporting by Luciano Costa; Editing by Dan Grebler

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