Brazil’s state-controlled power company Centrais Elétricas Brasileiras SA (ELET6.SA) will hold an auction on Dec. 19 to sell its subsidiary Companhia Energética de Alagoas (CEAL), the company said in a market filing on Friday.
Eletrobras, as the company is known, is selling several power distribution companies it used to own in Brazil’s Northern region as part of a plan to sell non-core assets and cut debt. It is expected to sell another distributor, Amazonas Energia, at an auction scheduled for on Dec. 10.
Source: Reuters.com