August 30, 2018 / 6:57 PM / a year ago

Brazil's Eletrobras sells 3 subsidiaries at auction

SAO PAULO, Aug 30 (Reuters) - Brazil’s state-controlled power company Centrais Elétricas Brasileiras SA, or Eletrobras, sold three power distribution companies at a public auction on Thursday in Sao Paulo, concluding another step in its divestiture program.

Local companies acquired the assets. Energisa SA bought power distribution firms Eletroacre and Ceron, while Oliveira Energia purchased Boa Vista Energia, according to the exchange. The bids comprised a combination of tariffs the acquirers are planning to charge and a signing bonus. (Reporting by Luciano Costa Writing by Marcelo Teixeira; Editing by Lisa Shumaker)

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