SAO PAULO/RIO DE JANEIRO, March 27 (Reuters) – Brazil’s government has nominated former Mines and Energy ministers Silas Rondeau and Nelson Hubner, along with executive Mauricio Tolmasquim, for positions on the board of power company Eletrobras, according to sources familiar with the matter.
The sources also revealed that former Finance Minister Guido Mantega has been nominated for a seat on Eletrobras’ fiscal council. Eletrobras did not immediately respond to a request for comment.
These nominations, which still need approval from the company’s shareholders in an April meeting, follow an agreement between Eletrobras and the government announced on Wednesday. The deal aims to resolve a legal dispute over the government’s voting rights in the company.
Under the proposed agreement, which still requires shareholder approval, the government would have the right to nominate three of the 10 board members at Eletrobras. Currently, the Brazilian government does not hold a seat on the board, following the company’s privatization in 2022.
Rondeau and Hubner served as Mines and Energy ministers in previous administrations under President Luiz Inacio Lula da Silva. Tolmasquim, who previously held roles in the ministry, is currently a director at oil company Petrobras.
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