The shareholders of Eletrobras approved, today, Tuesday, February 22, in the Extraordinary General Assembly (AGE), the terms of the privatization of the company. In this way, the company overcomes another stage in the obstacle course to make its capitalization process viable in the second quarter, as desired by the company and the federal government, reported Valor Economico.
In a meeting that lasted more than five hours, 12 points could be defined to continue with the privatization process, amidst questions from minority shareholders. The article was approved by the holders of 202,617 million ordinary shares of the company, while the shareholders representing 9,749 shares spoke against it and the abstentions totaled 884,482 million votes.
The capitalization of the company will be carried out through a capital increase. The state company will issue new shares through a primary offer and the Union will waive its subscription right. The objective is that the participation (direct and indirect) of the Union be diluted from the current 72.33% of the capital with voting rights to 45% or less, according to the Economic Value report.
Some of the most notable agreements were the terms of transfer of control of Eletronuclear and of Eletrobras’ participation in Itaipu to Empresa Brasileira de Participações em Energia Nuclear e Binacional SA (ENBPar). In addition, they authorized the Eletrobras board to define the details of the privatization. With this, the board of directors is empowered to establish the schedule, structure and prices for the issuance of new shares for the company’s capital increase.
Source: Larepublica
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