SAO PAULO (Reuters) – The Rio de Janeiro Court of Justice (TJRJ) granted this Sunday an injunction to suspend a meeting of Furnas debenture holders, scheduled for Monday, steps that must be completed to complete the privatization process of Eletrobras.
The meeting has on the agenda a proposal for the approval of a capital contribution to the Rio Madeira plant by Furnas, which is a subsidiary of Eletrobras.
The injunction was requested by the Furnas Employees Association (Asef), which alleges that the €681 million investment made by Furnas in Madeira Energia, made before the approval of debenture holders, violates corporate governance principles.
The case comes just days after Eletrobras launched a share offering with a view to privatization, an operation that could move around 35 billion reais and represent President Jair Bolsonaro’s last chance to launch a major privatization before the October elections. .
According to a preliminary prospectus delivered to the Securities and Exchange Commission (CVM), the capitalization would dilute the State’s stake in the company from 72% to about 45%, in an operation that could move approximately 35 billion reais.
The original forecast is that the offer will be priced next Thursday (9).
(By Rodrigo Viga Gaier, text by Aluísio Alves)
#Injunction #suspends #Furnas #assembly #Eletrobras #privatization #stage #ISTOÉ #DINHEIRO