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LatinNews Daily - 10 September 2019

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In brief: Privatisation of Brazil’s Eletrobras in the pipeline

* Brazil’s minister for mines & energy, Bento Albuquerque, has said that he hopes that the draft law allowing for the privatisation of state-owned electricity company Eletrobras will be presented to congress by 20 September, and that the terms for privatisation will be established before the end of the year. The inclusion of Eletrobras in the national divestment plan (PND) requires a change in law which must receive congressional approval. Speaking at the Brazilian Mining Expo & Congress in Belo Horizonte, Minas Gerais state, Albuquerque said that the government’s plan is to issue shares to dissolve the federal state’s majority stake in the company, with no shareholder holding more than 10% of the shares and the government maintaining a 30%-40% stake. The sale of Eletrobras shares would raise R$16.2bn (US$3.96bn) according to the government’s draft 2020 budgetary guidelines law.