Brazil Puts $7.4B Price Tag on Eletrobras; Mexico Fines Iberdrola for Illegal Energy Sales

A roundup of Friday’s news from across Latin America

Bloomberg Línea
May 27, 2022 | 07:00 PM
Reading time: <1 min.

Bloomberg Línea — Brazil has set a price tag of $7.4 billion for the privatization for electric power utility Eletrobras. If the sale is closed at that price it would be the second largest in the country behind a Petrobras share offering in 2010.

Mexico’s government has levied a 9.14-billion peso ($466.7 million) fine against Spanish energy company Iberdrola for the illegal sale of electricity, after authorities determined that the Spanish company had sold electricity generated under a self-supply permit.

Most Latin American stock exchanges closed with gains on Friday for the second consecutive day, influenced by the good mood of the U.S. markets. Chile’s IPSA (IPSA) put in the best performance in the region, closing the day with a gain of 2.26%, boosted by the raw materials, communication services and utilities sectors. Colombia’s COLCAP index rose by 1.57%.

Following is a roundup of Friday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.

Argentina:

Brazil:

Colombia:

Costa Rica:

Ecuador:

Honduras:

Mexico:

Peru:

Venezuela