The Ministry of Mines and Energy and the Ministry of Economy of Brazil will present a detailed plan on the announced privatisation of state-owned power company Eletrobras by early August 2019. The privatisation plan will be sent to the Brazilian Congress in the aim to receive Parliamentary approval before the end of 2019.
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. The capital increase is expected to raise up to BRL 18bn (US$4.8bn). Eletrobras 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.
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