Eletrobras to assume more than 11 bln reais of distributors' debt -sources

By Kitco News / February 08, 2018 / www.kitco.com / Article Link

BRASILIA/SAO PAULO, Feb 8 (Reuters) - Shareholders in Brazil's Centrais Eletricas Brasileiras SA decided at a meeting on Thursday that the company will assume more than 11 billion reais ($3.35 billion) of debt from distribution units it is trying to sell, two sources told Reuters.

Eletrobras, as the state-run utility is known, will also assume additional possible liabilities from state electricity funds related to the distributors, said the sources, who requested anonymity as they were not permitted to speak publicly.


($1 = 3.29 reais)


(Reporting by Leonardo Goy and Luciano Costa; Writing by Gram Slattery; Editing by Leslie Adler)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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