By Reuters Staff
1 Min Read
FILE PHOTO: Cane fields are seen in Brazil s center-south main sugar belt in Ribeirao Preto, Brazil May 2, 2019. REUTERS/Marcelo Teixeira/File Photo
SAO PAULO (Reuters) - Brazil’s antitrust watchdog CADE approved the acquisition of ethanol producer Biosev SA by Raizen, a joint venture between Brazilian ethanol producer Cosan SA and Royal Dutch Shell PLC.
The cash and stock deal was approved with no restrictions, according to the decision published on Tuesday in Brazil’s official gazette.
($1 = 5.6655 reais)
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Luciano Costa
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SAO PAULO, Feb 24 (Reuters) - Brazil’s government will cut its stake in power company Centrais Eletricas Brasileiras SA , or Eletrobras, to 45% from its current 61% in a planned privatization process, a senior official in the Energy Ministry told Reuters on Wednesday.
The ministry’s Energy Secretary Rodrigo Limp said the government expects its stake in Eletrobras to double in value to 60 billion reais ($11 billion) with the share price rise that it foresees privatization will bring.
President Jair Bolsonaro delivered a bill to Congress on Tuesday that will speed up privatization of Latin America’s largest utility by allowing development bank BNDES to work on the sale.
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Brazil to cut stake in Eletrobras to 45% from 61% in privatization - energy secretary reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.