Eletrobras agrees to increase capital in Eletronuclear

Eletrobras agrees to increase capital in Eletronuclear

Corporate & Sovereign Strategy Economy & Policy Equity Energy Brazil Latin America

Brazilian state-owned power company Eletrobras said Thursday that it approved a capital increase of BRL1.89 billion ($339 million) in its nuclear energy subsidiary Eletronuclear through the conversion of credits. Eletronuclear will receive BRL850 million through the conversion of an advance for a future capital increase, or AFAC, from the federal government and BRL1.04 billion from converting loans from Eletrobras, according to a securities filing. Eletronuclear entered loan negotiations with th

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