The head of the Brazilian government’s Special Ministry on Privatization and Disinvestment said Tuesday the administration intends to sell government assets this year worth at least $20 billion. Speaking at a seminar in São Paulo, Minister Salim Mattar said the government program will provide for sweeping sales of assets. “Our intention is to sell most of the subsidiaries currently held by Petrobras, Banco do Brasil and CEF,” he said. Petrobras is the government-run oil company, Banco do Brasil is Brazil’s biggest retail bank and CEF is the government-owned mortgage bank. Petrobras has 36 subsidiaries, Banco do Brasil 16 and CEF six. Mattar said the government will also sell shares in private companies now held by the government-run Brazilian Development Bank (BNDES) and then c lose the bank’s trading and custodial arm, BNDESPar. He said BNDESPar currently holds assets worth R$110 billion. The government will also effectively privatize utilities holding company Eletrobras by selling additional shares to the public.
Link to UOL news agency report