BNDES - Brazilian Development Bank

BNDES resumes the process of privatization of Eletrobras’ distributors


The sale of six distributors was approved yesterday by Eletrobras’ AGE

Public hearings are already scheduled in Acre, Alagoas, Amazonas, Piauí, Rondônia and Roraima

In late April an auction should be held in São Paulo


This Thursday, the 8th, by the 170th Extraordinary General Meeting of Shareholders of Eletrobras, the Brazilian Development Bank (BNDES) resumes the process of privatization of the six distributors of Eletrobras in the states of Acre, Alagoas, Amazonas, Piauí, Rondônia and Roraima, with the approval of the sale of the enterprises,.

The first public hearing will be held on February 16, in Boa Vista (RR), for Boa Vista Energia S.A. The following week, the public hearings will be conducted for Amazonas Distribuidora de Energia S.A., on 2/20, in Manaus (AM); for Centrais Elétricas de Rondônia S.A. (CERON), on 2/21, in Porto Velho (RO); and for Companhia de Eletricidade do Acre (Eletroacre), on 2/23,.

The public hearings for Companhia Energética de Alagoas (CEAL) and Companhia Energética do Piauí (CEPISA) will be held in the last week of February, on the 27th (in Maceió, state of Alagoas) and on the 28th (in Teresina/PI), respectively.

In addition, BNDES will forward the draft of the public notice and its attachments to the Federal Court of Accounts (TCU) so that it may be reviewed prior to publication. Roadshows to present the process to potential investors are also being prepared. The publication of the notice of privatization of the distribution companies must occur in at least 15 working days after the last public hearing has been held, which is the minimum interval determined by law. The auction is expected to take place in late April, at B3 (formerly BM&FBOVESPA), in São Paulo.

The process of privatization of Eletrobras’ six distributors is part of the Partnership and Investment Program (PPI), created by the federal government to strengthen the coordination of policies for investment in infrastructure through partnerships with the private sector. BNDES is responsible for the implementation and monitoring of the process of privatization. The Ministry of Mines and Energy is responsible for the coordination and monitoring of the privatization procedures. Eletrobras’ distribution management supports the interaction with the distribution companies. BNDES led the work performed by the Mais Energia B Consortium (PWC, Siglasul e Loeser and Portela Advogados Associados) and CERES Inteligência Financeira, which consisted of the financial evaluation of companies and in the designing of the privatization model.


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