Brazil expects to raise US$4.8bn from Eletrobras capital increase
The Brazilian government expects to raise around BRL 18bn (US$4.8bn) from a capital increase in state-owned power company Eletrobras. The company will issue between BRL 30bn and BRL 36bn (US$8-9.6bn) in new shares, diluting the government's stake in the company to a minority holding.
In January 2019, the Brazilian Secretary of Privatisation announced plans to privatise Centrais Eletricas Brasileiras, a subsidiary of Eletrobras, by selling additional shares on the market to raise capital. According to the Secretary of Privatisation, the government does not have enough resources to capitalise the company and in particular its power generation and transmission assets, which are viewed as capital-intensive.
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