Brazil’s government is eying the privatisation of giant power utility Eletrobras in a bid to balance a yawning budget deficit, the energy ministry said, yesterday.
The government, which is struggling to pay the bills after two years of deep recession, hopes to raise 20bn reais ($6.3bn) in the partial sell-off of the country’s biggest power utility. The government would retain a golden share to exercise veto power.
Currently the government holds 40.98 percent of Eletrobras’ capital, while state development bank BNDES holds another 18.72 percent.
