Tuesday, March 31, 2020

Eletrobras to Sell Real Estate, Complete Power Lines, CEO says

Posted by October 21, 2016

Brazil's financially troubled state-controlled electricity utility holding company Eletrobras plans to focus efforts on completing existing projects before bidding on new plants and power lines, its Chief Executive said on Friday.

Centrais Eletricas Brasileiras SA, as the utility is formally known, is also asking its subsidiaries to review their real estate holdings in an effort to raise cash for the heavily indebted company, the CEO, Wilson Ferreira Junior told reporters in Sao Paulo.

(Reporting by Jeb Blount)

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