2024-01-12 02:00:59
© Reuters. Furnas Hydroelectric Plant 07/07/2021 REUTERS/Washington Alves
(Reuters) – Eletrobras (BVMF:) reported this Thursday that the company’s shareholders, meeting at an Extraordinary General Meeting (AGE), approved by a majority the incorporation of the wholly-owned subsidiary Furnas – Centrais Elétricas, without the act resulting in an increase in capital or issuing new shares.
In a statement to the market, Eletrobras also informed that the merger will take place on a date to be defined by its Board of Directors.
“The incorporation of Furnas represents an important milestone in the corporate reorganization of Eletrobras and the simplification of its structure as foreseen in the Strategic Plan”, added the company, in the document.
Eletrobras had appealed to the Federal Supreme Court (STF) to overturn two injunctions that had suspended the holding of the EGM, called for December 29, to decide on the incorporation of Furnas by the company, under the allegation of “serious losses”.
The injunction requests had been initiated by the Furnas Employees Association (Asef), which questioned the validity of the AGE to deal with the incorporation of Furnas while Eletrobras and the Union were discussing, in the Conciliation and Arbitration Chamber of the Federal Administration (CCAF), the federal government’s demand to ensure the right to vote, as a shareholder, in proportion to the stake held in the company’s capital.
On January 2, the resource was distributed to the rapporteur of Minister Alexandre de Moraes. This Thursday, Moraes accepted Eletrobras’ request and ordered the revocation of the injunctions, which paved the way for the approval of the merger.
In a statement, Asef informed that it will appeal Moraes’ decision.
(Reporting by Fabrício de Castro)
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