April 9, 2018 / 3:27 PM / 15 days ago

Eletrobras CEO says new minister raises chances of privatisation

RIO DE JANEIRO (Reuters) - Brazil’s incoming energy minister will boost chances of approval in Congress of a bill outlining the rules for the privatisation of Eletrobras, the state-controlled power utility’s chief executive Wilson Ferreira Jr told Reuters on Monday.

The press office of Brazil’s President Michel Temer said on Sunday that Wellington Moreira Franco, currently the secretary of the presidency, will take over as energy minister, replacing departing Fernando Coelho Filho. Ferreira said Franco has the political strength necessary to help approve the bill, which he expects to pass still this year despite turbulence related to the general elections.

Reporting by Rodrigo Viga Gaier; Writing by Marcelo Teixeira; Editing by Chizu Nomiyama

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