Eletrobras Approves Sale of EMAE Shares to SABESP
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Eletrobras has approved the sale of its 40.21% stake in EMAE to SABESP for R$ 32.07 per share, aiming to streamline operations and enhance financial flexibility. The decision was unanimous, though some directors abstained due to conflicts of interest. This move may impact Eletrobras's market positioning, allowing a focus on core operations. Analysts rate EBR.B stock as a Buy with a $9.00 target, highlighting strong financial performance and positive indicators despite regulatory challenges. Eletrobras is a major Brazilian electric power company with a market cap of $23.41B.
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