September 30, 2016 / 3:02 PM / 2 years ago

Eletrobras CEO says company will prioritize sale of non-operational assets

SAO PAULO, Sept 30 (Reuters) - The head of Brazil’s state-led electricity-utility holding company Eletrobras said on Friday the company will prioritize the sale of non-operational assets, like land and buildings, to raise cash.

CEO Wilson Ferreira Jr said that Centrais Eletricas Brasileiras, as Eletrobras is formally known, would define its target for asset sales after estimating revenue gains from increased operating efficiency.

Ferreira added that Eletrobras will define targets for debt reduction and asset sales this year, giving priority to the sale of minority stakes. (Reporting by Luciano Costa; Writing by Brad Brooks; Editing by Daniel Flynn)

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