6.56 +0.11 (1.71%)
Pre-Market: 9:20AM EDT
|Bid||6.54 x 1900|
|Ask||6.56 x 200|
|Day's Range||6.40 - 6.50|
|52 Week Range||3.49 - 7.70|
|PE Ratio (TTM)||-7.74|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
State Grid Corp of China and Centrais Elétricas Brasileiras SA will start commercial operation of a key power transmission line for Brazil's Belo Monte dam in December, two months ahead of schedule, an official told Reuters on Monday. "We are looking to complete the work in October, run tests through November and start commercial operation in December," said Newton Zerbini, head of a joint venture named BMTE, created by State Grid and Eletrobras to build the line.
The Brazilian government will not propose a transition of state-controlled utility Centrais Elétricas Brasileiras SA to the Novo Mercado segment of the São Paulo Stock Exchange, Deputy Energy Minister ...
French energy conglomerate Engie SA (ENGIE.PA) has appetite for more Brazil acquisitions, and will evaluate assets being sold by Eletrobras, despite spending more than $1 billion (755.29 million pounds) in a licensing auction last week, Engie's local unit head told Reuters on Wednesday. Brazil's state-controlled utility Eletrobras, or Centrais Elétricas Brasileiras SA (ELET5.SA), said on Monday it will soon kick-start its divestiture plan which includes stakes in dozens of projects, mostly wind parks and power transmission ventures. "We are open to opportunities, but always conservatively and with financial discipline," Mauricio Bahr, Engie Brasil's chief executive, said in an interview in Sao Paulo.
Brazil’s President Michel Temer said Wednesday in New York that the government will maintain control of indebted, state-controlled oil producer and refiner Petroleo Brasileiro or Petrobras (PETR3.Brazil and PBR). Petrobras shares rose 4% to $10.43 in U.S. trading Wednesday, while the iShares MSCI Brazil Capped exchange-traded fund (EWZ) was up only 0.3%. Shares of power utility Centrais Eletricas Brasileiras or Eletrobras (ELET3.Brazil and EBR) rose 2%.
Brazil's President Michel Temer said on Wednesday that despite his government's aggressive privatization agenda, state-run oil company Petroleo Brasileiro , a symbol of national sovereignty, would remain under government control. Temer, speaking at a Reuters Newsmaker event in New York, also said that sprawling investigations that have led to corruption charges against scores of powerful figures - including him - show that Brazil's governmental institutions are independent and working well.
Brazil's state-run oil company Petroleo Brasileiro SA will inject 6.3 billion reais ($2 billion) of fresh capital into its fuel distribution arm, cleaning up its balance sheet in an effort to attract investors to an initial public offering. The money from the capital injection, approved by the board of the company and announced in a securities filing on Friday, will solve a long-standing problem with state-controlled power utility Centrais Eletricas Brasileiras SA. The capital injection solves the main hurdle to the initial public offering of the unit, Petrobras Distribuidora SA, according to a person with direct knowledge of the matter.
The Brazilian government's plan to privatize power holding company Centrais Eletricas Brasileiras SA will not lead to an increase in electricity prices, Mining and Energy Minister Fernando Coelho Filho ...
Brazil stocks climbed to a new 52-week high after the Brazilian government said it would reduce its controlling stake in Centrais Eletricas Brasileiras (EBR) or Eletrobras, a state-controlled utility company. The $6.3 billion iShares MSCI Brazil Capped ETF (EWZ), which tracks an index of 58 stocks, gained 1.9% on Wednesday and climbed to the top of the ETF heap. Brazil stocks could have more upside.
Brazilian stocks on Tuesday shot to a six-year high after the government unveiled plans to privatize power utility Centrais Elétricas Brasileiras SA, while Mexican shares rose after data showed the economy ...
BRASILIA/RIO DE JANEIRO (Reuters) - Brazil's surprise move to privatize Centrais Eletricas Brasileiras SA (ELET5.SA) sent the utility's shares soaring nearly 50 percent on Tuesday as investors bet the plan augured further moves to loosen the government's grip on the economy. The transaction should be concluded by mid-2018 and could involve the sale of new stock to help replenish the capital of Eletrobras, as the holding company is known, Mines and Energy Minister Fernando Coelho Filho told Reuters. While the plan involves the end of federal government voting control at Eletrobras, it remains to be decided how much of its 51-percent voting stake will be sold and how, deputy Finance Minister Eduardo Guardia said.
Correction: This post and headline were updated to reflect the correct spelling of Eletrobras, the shorthand name for Centrais Electricas Brasileiras. Shares of power utility Centrais Eletricas Brasileiras (EBR and ELET3.Brazil) rose 25% in Sao Paulo trading Tuesday and 36% in the U.S. after the Brazilian government said would reduce its controlling stake. Brazil stocks are getting a big lift today.
The privatization of Centrais Elétricas Brasileiras SA will eliminate hurdles that state companies face in Brazil and allow the utility to compete on equal terms with private peers, Chief Executive Officer ...
Shares in Brazil's Centrais Elétricas Brasileiras SA soared on Tuesday after the government proposed privatizing the power utility, fueling expectations of lower debt and increased efficiency. Common shares ...
The stake that Brazil's federal government and state entities hold in power holding company Centrais Elétricas Brasileiras SA could be worth 12 billion reais or more, a government official said on Monday. ...
The privatization of Brazilian electric utility Eletrobras could raise up to 20 billion reais ($6.3 billion), Mining and Energy Minister Fernando Coelho Filho told Reuters, adding that the process may involve the sale of new shares. The interview followed an Energy and Mines Ministry statement, which said the model and terms of the Eletrobras privatization are yet to be decided.
Brazil’s government said it plans to reduce its controlling stake in debt-ridden power utility Centrais Elétricas Brasileiras SA, or Eletrobras, in what could be one of the country’s most significant privatizations ...
SAO PAULO/BRASILIA, Aug 21 (Reuters) - Brazil on Monday floated a proposal to cede control of the country's biggest power utility, Eletrobras, in the boldest privatization yet by a government struggling to close a record budget deficit, sending Eletrobras' shares soaring in after-market trading. The Mining and Energy Ministry gave Centrais Elétricas Brasileiras SA, the holding company known as Eletrobras, notice of the plan and said publicly that it would bring the proposal to President Michel Temer's special council on privatizations. While both the privatization model and terms are yet to be decided, the government will keep a right to veto some strategic decisions, the ministry said in a statement.
SAO PAULO/BRASILIA, Aug 21 (Reuters) - Brazil's Mines and Energy Ministry will propose President Michel Temer to exit control of power holding company Centrais Elétricas Brasileiras SA, the boldest move yet by a government struggling to close a swelling budget deficit and heed calls to fight widespread corruption. In a Monday statement, the ministry said it told Eletrobras of the plan, which will be sent to Temer's council for state asset sales. While both the privatization model and terms are yet to be decided, the Brazilian government will keep a right to veto some strategic decisions, the statement added.
Brazilian state-controlled power utility Centrais Elétricas Brasileiras SA posted net income of 306 million reais in the second quarter, a drop of 98 percent from the year before, according to a securities ...
Categories: ETFs Yahoo FinanceClick here to see latest analysis ETFs with exposure to Centrais Elétricas Brasileiras SA Here are 5 ETFs with the largest exposure to EBR-US. Comparing the performance and risk of Centrais Elétricas Brasileiras SA with the ETFs that have exposure to it gives us some ETF choices that could give us similar returns with lower ... Read more (Read more...)