Eletrobras delays sale of Amazonas state subsidiary

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Friday, August 17, 2018

Brazil state-run power firm Eletrobras changed the auction date for Amazonas Distribuidora, its Amazonas state distribution subsidiary.

The firm was due to be auctioned on August 30, together with subsidiaries Eletroacre, Ceron and Boa Vista Energia, but Eletrobras changed the date to September 26.

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Brazil's federal public ministry did not recommend the sale of Amazonas Distribuidora due to legal uncertainties.

Eletrobras also aims to sell its subsidiary in Alagoas state, Ceal, but the process is pending and awaits federal audit court clearance.

The sale of all distribution firms was interrupted again on Thursday night, as a labor court ruled in favor of electric power workers union AEEL which requested the suspension. Eletrobras said it is studying the measures to resume the privatization.

So far, Eletrobras has sold only one of its distribution subsidiaries, Cepisa, which was bought by Equatorial Energia.