May 28, 2023

Lula’s government plans to launch an offensive in the STF to revoke Eletrobrás’ privatization base

AGU and Casa Civil want to rebalance the federal government’s involvement in corporate decisions. The federation owns 42.6% of the shares and only 10% of the voting power at general meetings

Lula, Jair Bolsonaro and Paulo Guedes

247 – The Civil House and Public Defense of the Union (AGU) are planning a legal attack with the aim of amending the statutes of Eletrobrás and rebalancing the participation of the federal government in the company’s decisions, Tells Columnist Malou Gaspar of O Globo newspaper.

The two ministries are working together to prepare a direct measure of unconstitutionality (ADI) that will be submitted to the Supreme Federal Court (STF) in order to change a rule in the Eletrobrás Statute, which limits any shareholder to a maximum of 10% of the voting power in the councils.

The union owns 42.6% of the shares and considers the rule unconstitutional. It was included in the company’s articles of association during the privatization process, led by Jair Bolsonaro (PL) and former Minister of Economy Paulo Guedes.

President Lula himself spoke about the matter in an interview with TV 247 on Tuesday (21), He criticizes the procedure itself and the privatization model of Eletrobrás: “It won’t stop there. We are in the process of suing the government’s weight in running the company and the price at which it was sold.”

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“What happened in Eletrobrás was a crime against the country. It privatized a company of this magnitude, it seems to me that they sold it for R$ 36 billion, and that the money is used to pay interest on the public debt. It seems that there are no signs that would lower the price of energy for the Brazilian people, “he emphasized. President.

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