Companhia Energética de Brasília (CEB) is in the process of privatization and the minimum price is R$ 1,4 billion

The meeting of shareholders of Companhia Energética de Brasília – CEB, approved the start of the company's privatization process. The definition was carried out yesterday afternoon and defined the sales details of CEB Distribuição, with a minimum sales value of R$ 1,4 billion. The final value went through two economic assessments carried out 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 making the purchase of CEB.

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Ibaneis Rocha, governor of the Federal District, said that “The value assessed by the BNDES is expected to reach around R$ 2 billion, up to R$ 2,5 billion, as it is a good that is very coveted by businessmen in the area” .

Edison Garcia, president of the company, pointed out that “There was majority approval for the sale. GDF, Novacap and a group of shareholders and investors voted. CEB was valued at BRL 2,4 billion, but it became indebted and lost its value. The company is not profitable, the numbers show that. The GDF loses around BRL 900 million due to past management actions. So, what we could sell for BRL 2,4 billion will start with BRL 1,4 billion”.

Six companies showed interest in buying the company that supplies energy to 1,1 million consumers. Most of these companies are controlled by foreign capital. The value of the auction will revert to CEB Holding, where the Government of the Federal District (GDF) holds 80% of the shares and the market 20%.

The president of CEB says that “To cite examples, there is a debt from the University of Brasília (UnB) that jeopardized the company's cash for six years, still from a time of the government of Cristovam Buarque, which exempted the payment of electricity bills, even though it is a federal university, which has federal resources. We also had past plans in which more energy was purchased than we have the capacity to consume. There are still the costs of personnel, of service”.