Business Maverick: Brazil Power Giant’s $14 Billion Sale Nears Make-Or-Break Point

President Jair Bolsonaro’s administration is seeking to privatize Eletrobras through a capital increase in which the state’s stake would end up diluted, effectively giving up control of the Rio de Janeiro-based firm while retaining some veto rights. Lawmakers approved the sale process, but Brazil’s audit court still needs to green-light it. TCU, as the court is known, is scheduled to discuss the topic Wednesday, including the minimum price for the offering.

If the sale goes through, “we see an opportunity for the company to pursue efficiency gains, bring operating levels closer to where private players operate,” Goldman Sachs analysts led by Pedro Manfredini wrote in a report dated April 11, reaffirming a buy-equivalent rating for the stock. If the offering doesn’t occur by May 13, Eletrobras will need to update the sale’s prospectus with first-quarter results, delaying the operation to the third quarter, closer to the election. At TCU’s Wednesday session, one of the court’s ministers could request more time to review the matter, according to a Bloomberg News report.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Business Maverick: Australian Election Tightens After Rocky Start to CampaignAustralian voters are turning their backs on the two major parties ahead of next month’s election, with new polling showing the center-right government and the opposition Labor Party could both struggle to win a majority in Parliament. No it hasn't - latest poll unchanged from the week before. This poll was released last night. Labor still leads 53% to 47% on 2 party preferred. Gaffe prone PM Morrison stumbling again today. Even called a journalist 'Mr. Speaker' 3 times in a news conference over the weekend!
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Business Maverick: Le Pen Mixes Hardline Policies With Social Welfare to Widen AppealNationalist leader Marine Le Pen has never led in the three campaigns she’s run for France’s top job. But she’s finally making it close.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Business Maverick: China’s Property Sector Contracts for Third Straight QuarterChina’s property sector contracted for a third straight quarter, a sign that real estate was still dragging on the economy, even before the recent Covid outbreaks and lockdowns began to escalate.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »