Weekly Report - 11 May 2023 (WR-23-19)

BRAZIL | Efforts to amend Eletrobras privatisation. On 5 May, Brazil’s federal attorney general’s office (AGU) asked the supreme court (STF) to change parts of June 2022 legislation which privatised the electricity company Eletrobras, particularly a clause which restricts shareholders from owning more than 10% of the company’s voting capital. Although it is uncertain whether the STF will agree to this change, it could provide an opportunity for the federal government, still a major Eletrobras shareholder, to gain more influence over its former asset, without officially renationalising the company.