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Brazil Congress must approve all privatizations - Brazil Supreme Court justice




By Reuters

Petroleumworld 06 28 2018

Brazil's Supreme Court Justice Ricardo Lewandowski ruled on Wednesday that the sale of shares of state-controlled companies, including subsidiaries, must be approved by the nation's Congress, according to a court document seen by Reuters.

The ruling could significantly impact the asset programs of massive companies like state-led oil company Petroleo Brasileiro SA and power holding company Centrais Eletricas Brasileiras SA. It was not immediately clear if the decision by Lewandowski would eventually be brought before the full court.


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Reporting by Ricardo Brito Writing by Tatiana Bautzer and Brad Brooks from Reuters. 06 27 2018

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