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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Eletrobras to start selling stakes in Oct

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RIO DE JANEIRO: Brazil’s state-run utility, Centrais Eletricas Brasileiras S A, the country’s largest, will start selling stakes in dozens of ventures such as wind farms and transmission lines in October, Chief Executive Wilson Ferreira Jr said on Wednesday.


The board of directors will analyse the proposals on Friday, he said at a business conference in Rio de Janeiro.


Over the next six months, the utility, known as Eletrobras, plans to sell stakes in 77 of the 178 specific purpose ventures that it is involved in, he said.


Eletrobras informed shareholders that it had received studies by state development bank BNDES on how best to privatise the utility’s distribution companies. — Reuters


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