STF sent case to arbitration chamber; government questions having only 1 seat on the company's board despite having 42% of the shares
Representatives of Eletrobras and the federal government met this Monday (January 8, 2024) to discuss the Union's request to expand its voting power in the company. This was the first meeting of the parties in CCAF (Mediation and Conciliation Chamber of the Federal Public Administration) in search of a consensual solution.
The government took action in STF (Supreme Federal Court) to question the limit of up to 10% to your voting rights in Eletrobras. The law that allowed the company's privatization changed the rule for voting capital, regardless of the participation of each shareholder.
The action signed by the president Luiz Inácio Lula da Silva (PT) requests that the section only applies to the voting rights of shares acquired after privatization. When Eletrobras ceased to be state-owned, in June 2022, the Union now has only 1 seat on the company's board, although it holds 42% of the shares.
The government wants the right to vote proportionally. In December, Minister Nunes Marques, rapporteur of the STF's action, sent the case to the arbitration chamber, a measure he understood to be the best for “ensure the harmony of legal-institutional relations” it's from “equalize interests between controlling and controlled groups”.
The substitute attorney general of the Union, Flavio José Roman, the general advisor of the Union, Andre Augusto Dantas, and representatives of Eletrobras participated in the 1st conciliation meeting. The negotiations must be expanded and the next meetings must include representatives from the Ministries of Finance and Mines and Energy.
“Eletrobras’ engagement in the conciliation process is a vote of confidence in the composition capacity of the Federal Attorney General’s Office, especially the CCAF. It was in this spirit that we received the company's representatives, explaining that our only concern is to guarantee the Union's property interests in the company”points out the substitute attorney general of the Union, Flavio José Roman.
The CCAF is part of the AGU (Advocacy General of the Union). It is a unit specialized in the consensual resolution of disputes involving the federal public sector and since 2007, the year of its creation.
#Government #Eletrobras #hold #1st #conciliation #meeting #votes
