|Day's Range||5.11 - 5.43|
|52 Week Range||5.11 - 5.43|
|PE Ratio (TTM)||6.23|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Brazil's state-controlled power holding company Centrais Elétricas Brasileiras SA is still seeking to sell assets to cut debt despite concern that a political crisis could spook potential buyers, its chief executive said on Tuesday. Eletrobras CEO Wilson Ferreira was in New York meeting with investors last week when news broke about the plea bargain deal of Joesley and Wesley Batista, owners of meatpacker JBS SA , which set off a political fire storm and calls for President Michel Temer to resign. Brazilians who have become inured to a massive, three-year corruption investigation were shocked last week by the disclosure of a recording that appeared to show Temer condoning the payment of hush money to a jailed lawmaker.
A large group of Brazilian companies will be partly spared an additional power tariff that will be levied later this year, after a federal court issued an injunction in their favor late on Monday, according to court documents. Several industry groups obtained the injunction that partially exempt the companies they represent from the extra tariff the government plans to add to power bills from the second half of this year. The government adopted the extra charge of up to 7 percent to compensate power transmission companies such as Eletrobras , CTEEP, Cemig and Copel for the early renewal of operating licenses in 2013.
A federal court in Brazil suspended the operating license of the massive Belo Monte hydroelectric dam on environmental grounds, according to a statement late on Thursday from federal prosecutors in the state of Pará. The dam's operating consortium Norte Energia SA, led by state-controlled energy group Centrais Eletricas Brasileiras SA , or Eletrobras, must complete basic sanitation works in the city of Altamira before filling the dam's reservoir, the prosecutors said. The sanitation work was a condition for Brazil environmental agency Ibama licensing the 11,233-megawatt Belo Monte dam, which has drawn controversy for its impact on the native communities along a tributary of the Amazon river.