KSE100 34408.05  ▲ Increased By 386.08 (1.13%)
KSE30 15071.48  ▲ Increased By 215.83 (1.45%)
BR100 3542.91  ▲ Increased By 42.56 (1.22%)
BR30 18504.96  ▲ Increased By 58.77 (0.32%)

Business Recorder Logo

Jun 03, 2020 PRINT EDITION

RIO DE JANEIRO: The privatization auction of a unit of Brazilian state-run power holding company Centrais Eletricas Brasileiras SA was delayed to accommodate investors who needed more time to examine the unit, an executive said on Monday.

Many potential buyers had in the last week been requesting information about Ceal, as the unit is known, the CEO of Eletrobras, as the company is known, Wilson Ferreira Jr., said.

Earlier on Monday, Eletrobras delayed the auction, without saying why. With the new delay, Ceal, located in the Brazilian northeastern state of Alagoas, is scheduled to be auctioned off on Dec. 27.

Copyright Reuters, 2018