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    FGTS can be used to purchase Eletrobras shares

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    The minimum amount for investment is R$ 200. In case the worker sells the shares, the funds return to the Fund (Image: Reuters/Pilar Olivares)

    The advertising campaign and the systems for workers to buy with money from the Severance Indemnity Fund (FGTS) shares gives electrobras in the privatization process companyapproved by Federal Audit Court (TCU) this Wednesday the 18th.

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    The potential for the purchase with FGTS resources is R$ 6 billion. The government expects a significant sale with the fund’s money, as has already happened in capitalization operations of the Petrobras (PETR4).

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    In the privatization of Eletrobras, workers will be able to use up to 50% of the FGTS.

    The minimum amount for investment is R$ 200. In case the worker sells the shares, the funds return to the Fund.

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    After becoming aware of the offer, the employee with an account in the Fund will be able to access the channels that will be made available by Caixa (FGTS application or agencies) and simulate values.

    FGTS
    The worker will have the option to choose an FMP-FGTS administrator, authorize it to consult its balance and forward to Caixa the request for a reserve request for the purchase of shares (Image: Pixabay)

    The purchase will be made through Privatization Mutual Funds linked to the FGTS (FMP-FGTS), which are constituted in the form of an open condominium in which exclusively individuals holding FGTS linked accounts participate – every worker with a formal contract has an account linked.

    The worker will have the option to choose an FMP-FGTS administrator, authorize her to check her balance and forward to Caixa the request for a reserve request for the purchase of shares.

    Judicialization

    A “war room” for the dispute of injunctions in the Justice already started working on BNDES and at Eletrobras.

    Lawyers monitor the legal movement in courts across the country daily to quickly stop attempts to stop the operation.

    The government’s expectation is that the settlement (final phase) of the operation will take place in June.

    Among the steps in the company’s sale schedule is the definition by the Investment Partnerships Program Board (CPPI) of the minimum share price.

    Before that, the banks that are advising on the offer do a market reading and submit the evaluation to Eletrobras and BNDES.

    Afterwards, there is an internal approval process for the seller and, after that, the offer will be launched through a sales prospectus.

    It’s like a brochure with the rules of sale.

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    Source: Moneytimes

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