November 30, 2018 / 5:45 PM / in 5 months

Brazil's Eletrobras to sell distribution company CEAL on Dec. 19

SAO PAULO (Reuters) - Brazil’s state-controlled power company Centrais Elétricas Brasileiras SA (ELET6.SA) will hold an auction on Dec. 19 to sell its subsidiary Companhia Energética de Alagoas (CEAL), the company said in a market filing on Friday.

Eletrobras, as the company is known, is selling several power distribution companies it used to own in Brazil’s Northern region as part of a plan to sell non-core assets and cut debt. It is expected to sell another distributor, Amazonas Energia, at an auction scheduled for on Dec. 10.

Reporting by Marcelo Teixeira

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