Brazil’s President Jair Bolsonaro and Economy as well as Minas and Energy Ministers Paulo Guedes and Adolfo Sachsida early this afternoon (Jun 14) attended the ceremony marking the start of trading of Eletrobras shares at B3, the São Paulo Stock Exchange.
“Eletrobras is now entering a new phase, with a new governance model. I am convinced that Eletrobras is prepared to pursue its role as a protagonist in the electric sector,” said Eletrobras President Rodrigo Limp Nascimento.
Bolsonaro attended the event, but did not make a speech. Minister Adolfo Sachsida, in turn, said, “Today is a historical day for our country. A state-owned company leaves the scene and the largest renewable energy corporation in Latin America steps in, with renewed investment capacity,” he said.
“Eletrobras is now free. It’s been capitalized. It will move on and ensure Brazil’s energy security,” said Economy Minister Paulo Guedes.
The ceremony celebrates the trading of Eletrobras shares, the largest company in Latin America’s electricity sector, passed on to the private sector after six decades. The company's privatization takes place through stock offers that dilute the government’s stake in the company. At the end of the process, government's control over the company should sink from 72 to 45 percent.
