Eletrobras plunges on likely delay to privatization plan

EBR Systems

15/12/2021 14:50

** U.S.-listed shares of Brazilian state-run electricity
company Eletrobras  ELET6.SA ,  EBR.N  slip 8% to $5.59 
    ** Shares are set to log their worst day in about a month
    ** On Wednesday, Brazil's federal audit court judge
adjourned the decision on privatization, seeking more time to
review the process  urn:newsml:reuters.com:*:nS0N2SM00N
    ** On Tues, newspaper Valor Econômico reported that Brazil's
long-awaited plan to privatize the firm could face a new
obstacle as a key minister is set to question its proposed
valuation  urn:newsml:reuters.com:*:nL6N2SZ07Y
    ** Last month, EBR's board agreed to hire the investment
banking units of Bank of America  BAC.N , BTG Pactual
 BPAC3.SA , Itaú  ITUB4.SA , XP  XP.O  and Goldman Sachs  GS.N 
to lead a share offering as part of its privatization
 urn:newsml:reuters.com:*:nE5N2OC01R
    ** YTD, EBR shares down 5%

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))