August 17, 2018 / 1:26 PM / 2 months ago

Brazil's Eletrobras delays auction of a power distributor until September

RIO DE JANEIRO, Aug 17 (Reuters) - Brazil’s Eletrobras has delayed the auction of a power distributor based in the state of Amazonas to Sept. 26 from Aug. 30, while keeping the original date for three other units, the power generation company said in a filing on Friday.

Amazonas Distribuidora de Energia will be put on the block in September while Eletroacre, Ceron and Boa Vista Energia will be auctioned off in August, the company said.

Centrais Eletricas Brasileiras, as Eletrobras is formally known, is seeking to offload heavily indebted distributors ahead of government plans to privatize the overall company.

Eletrobras’s Cepisa unit was auctioned to sole bidder Equatorial Energia in July. The sale of its Ceal unit, based in Alagoas state, is suspended due to a court decision.

The auctions hit a snag after a Supreme Court judge ruled in June that all privatizations must be approved by Congress, with a lower court stepping in to apply the decision to Eletrobras. The lower house of Congress gave its approval in July to privatize the distributors but the Senate has yet to vote on the matter.

Eletrobras Chief Executive Wilson Ferreira Jr. has said the company plans to go ahead with the auctions. (Reporting by Jose Roberto Gomes Editing by Bill Trott)

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