January 22, 2019 / 10:03 PM / a month ago

Eletrobras CEO says capital raise needed, format undetermined

SAO PAULO, Jan 22 (Reuters) - Brazil’s new government is convinced of the need for state-run utility Centrais Eletricas Brasileiras SA to raise fresh capital but has not raised the matter with President Jair Bolsonaro, Chief Executive Wilson Ferreira said on Tuesday.

Ferreira told Reuters he has begun to discuss how to capitalize Eletrobras, as the company is known, with Mines and Energy Minister Bento Albuquerque, but not yet with Economy Minister Paulo Guedes. Ferreira said the capital increase could be done this year, adding that the format for the operation has not been decided. (Reporting by Luciano Costa; Editing by Christian Plumb)

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