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Brazil’s Eletrobras privatization lures CPPIB, GIC: Reuters

Brazilian state power company Eletrobras is expected to raise about $6 billion through a share offering with funds from Canada and Singapore among the bidders.

Brazilian state power company Eletrobras is expected to raise about $6 billion through a share offering with funds from Canada and Singapore among the bidders, Reuters reported. Canada Pension Plan Investment Board and Singapore’s GIC, seldom seen in follow-on offerings, are poised to become relevant shareholders after the offer. The share offering will result in the privatization of Eletrobras, Latin America’s largest utility.

Source: Reuters