Brazil is preparing to privatize Eletrobras in a US$7 billion deal

The government's stake will be lowered to less than 50% of voting shares after the sale. It would be the country's largest privatization in more than two decades.

RIO DE JANEIRO, BRAZIL - Brazil is moving forward with the process of relinquishing its majority stake in Latin America's largest power utility, Eletrobras, through a share sale that could raise US$7 billion. It would be the country's largest privatization in more than two decades.

Centrais Elétricas Brasileiras SA (ELET6), as the Rio de Janeiro-based company is formally known, is issuing new shares as the national development bank (BNDES) sells part of its stake . . .

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