Brazil privatises Eletrobras

Brazilian state-owned development bank BNDES has hired Shearman & Sterling LLP in São Paulo and New York and local firms Lefosse and Tauil & Chequer Advogados in association with Mayer Brown to reduce its stake in Eletrobras through a 33.7 billion reais (US$6.9 billion) offering – the largest Brazilian privatisation in two decades.

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