Eletrobras picks banks for share sale

Eletrobras picks banks for share sale

Equity Capital Markets Energy Electricity Regulation Economy & Policy Brazil

Brazil's state-owned power company Eletrobras has picked five banks – Bank of America, BTG Pactual, Goldman Sachs, Itaú BBA and XP Investimentos – to lead a share sale that will lower the government's stake to at least 45%, according to a securities filing. Eletrobras is still in the process of hiring the bookrunners for the equity offering and it requires approval from "competent authorities," the company said in the filing on Thursday. It also said it has not finished choosing other banks to b

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