December 28, 2018 / 9:28 PM / 8 months ago

Brazil's Equatorial Energia wins auction to buy Eletrobras distributor

SAO PAULO, Dec 28 (Reuters) - Brazil's Equatorial Energia won an auction on Friday to acquire 90 percent of an electric distributor owned by state-controlled company Eletrobras for 45 billion reais ($11.60 billion), according to a securities filing.

Equatorial was the only bidder on the distributor, known as Ceal, in the northeastern state of Alagoas.

Eletrobras, or Centrais Elétricas Brasileiras SA, is Brazil's largest power group and is going through a significant divestment process, selling off distributors throughout the country.

Brazil's President-elect Jair Bolsonaro, who will take office on Jan. 1, has advocated boosting privatizations among the country's state-controlled companies. ($1 = 3.8804 reais) (Reporting by Isabel Marchenta; Editing by Richard Chang)

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