Privatization of Brasília Energy Company (CEB) Attracts 6 Companies. Auction to Take Place in November with Minimum Price of R$ 1.4 Billion

Written by Roberta Souza

Published on 14/10/2020 at 17:21

CEB – Companhia Energética de Brasília

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Brasília Energy Company (CEB) Is Undergoing Privatization Process and the Minimum Price Is R$ 1.4 Billion

The shareholders’ meeting of Brasília Energy Company – CEB, approved the start of the company’s privatization process. The decision was made yesterday afternoon and set the sales details for CEB Distribution, with a minimum sale price of R$ 1.4 billion. The final amount went through two economic evaluations conducted by the National Bank for Economic and Social Development – BNDES. The auction will be held by B3 on the São Paulo Stock Exchange in November, and currently, 6 companies are interested in purchasing CEB.

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Ibaneis Rocha, Governor of the Federal District, stated that “The value assessed by BNDES is expected to reach around R$ 2 billion, up to R$ 2.5 billion, as it is an asset that is highly coveted by businesspeople in the area.”

Edison Garcia, the company’s president, emphasized that “There was a majority approval for the sale. The GDF, Novacap, and a group of shareholders and investors voted. CEB was valued at R$ 2.4 billion, but incurred debts and lost value. The company does not generate profit, numbers show that. The GDF loses about R$ 900 million due to actions from past administrations. So, what we could sell for R$ 2.4 billion will start at R$ 1.4 billion.”

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Privatization of Brasília Energy Company (CEB) Attracts 6 Companies. Auction to Take Place in November with Minimum Price of R$ 1.4 Billion

Brasília Energy Company (CEB) Is Undergoing Privatization Process and the Minimum Price Is R$ 1.4 Billion

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Privatization of Brasília Energy Company (CEB) Attracts 6 Companies. Auction to Take Place in November with Minimum Price of R$ 1.4 Billion

Brasília Energy Company (CEB) Is Undergoing Privatization Process and the Minimum Price Is R$ 1.4 Billion

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