September 14, 2016 / 12:42 PM / 2 years ago

Brazil's Eletrobras updates market value of Celg-D

BRASILIA, Sept 14 (Reuters) - Brazil’s state-controlled utility Centrais Elétricas Brasileiras SA said on Wednesday the market value of its Celg-D power distributor unit was revised to 4.448 billion reais ($1.34 billion).

Eletrobras, as the company is commonly known, said the value was updated in accordance to the new guidelines presented by the government as part of plan to privatize several state assets. The company did not say what was the previous market value.

In August, authorities were forced to reschedule the sale of Celg-D after potential bidders failed to present some financial requirements within the auction deadline. ($1 = 3.3131 Brazilian reais) (Reporting by Alonso Soto)

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