AGU once again contests the Union’s shareholding in Eletrobras

The Attorney General’s Office (AGU) sent a new statement to the Federal Supreme Court (STF) to defend the suspension of provisions of Law 14,182 of 2021, a norm that authorized the privatization of Eletrobras, approved by the National Congress and sanctioned by then-president Jair Bolsonaro . In the document sent this Thursday (15th) to the Supreme Court, the body says that a minority group, which holds 0.05% of Eletrobras’ shares, appointed three representatives to the Board of Directors, while the Union, which owns 42% of shares, made no indication. Based on the arguments, the AGU once again defended the granting of an injunction to suspend the model created by the privatization of the company, which reduced the Union’s participation in the votes of the company’s board. The law prohibited a shareholder or group of shareholders from exercising voting power greater than 10% of the number of shares. “The risk and urgency necessary for the granting of the precautionary measure have been duly demonstrated, either due to the serious obstacles that the Union has been suffering in the management of the company, or due to the high public investment still existing in Eletrobras, a company that has an essential and strategic role in the national energy sector”, says the manifestation. The shareholding model is contested by a direct action of unconstitutionality filed at the beginning of last month. The AGU points out that the objective of the action is not to renationalize Eletrobras, but to protect the public interest and the property rights of the Union.

Agência Brasil