Eletrobras Sells Eletronuclear Stake to Âmbar/J&F for R$535 Million

Overview

• The contract signed on October 14 transfers Eletrobras’s entire interest in Eletronuclear to Âmbar Energia, the J&F power unit, for R$535 million.
• Âmbar will assume guarantees previously provided by Eletrobras and take on the R$2.4 billion debenture commitment agreed with the federal government.
• Eletrobras recorded an approximately R$7 billion provision in the third quarter tied to the divestment and expects release from remaining Eletronuclear liabilities.
• Post-transaction, Âmbar will hold 68% of total capital and 35.3% of voting rights, while ENBPar retains control with 64.7% of voting capital.
• Regulatory approvals are still required, as the government orders updated Angra 3 economic studies with options including a private partner, public funding, or cancellation, and the TCU flags a financing gap for the Angra 1 life-extension program with a 90-day action plan mandate.