October 9, 2019
Brazil's Eletrobras said it could capitalize BRL3.99bn ($976m) in advances for a future capital increase that it received from the federal government in 2016.
The company's board has not yet made a decision, and President Jair Bolsonaro would have to approve the transaction through a decree before it could proceed, Eletrobras said in a securities filing.
"If and when the transaction occurs, the shareholders shall have preemptive rights," it said.
Earlier this week, the Bolsonaro administration b
Brazilian state-owned power company could convert $976m in loans into capital after government backs away from plans to invest $855m