June 10, 2019 / 7:43 PM / a year ago

Brazil state-run power firm CEB mulls privatization to raise $129 mln -CEO

SAO PAULO, June 10 (Reuters) - Brazilian state-run power group Companhia Energetica de Brasilia is considering privatizing its distribution unit, CEB-D, to raise 500 million reais ($129 million) to improve its finances, Chief Executive Edison Garcia said.

The potential sale of a majority stake at CEB-D will be discussed at a shareholders meeting scheduled for June 19, when other alternatives will also be presented, Garcia told Reuters in an interview on Friday.

Garcia said another options would be a capital injection by the Brasilia regional government or the sale of generation assets by the holding company CEB.

$1 = 3.8768 reais Reporting by Luciano Costa; Writing by Gabriela Mello; Editing by Richard Chang

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