Privatizations, state ownership, governance and the evolution of major Brazilian companies.
← Back to topicOn May 6, 1997, Brazil transferred control of Companhia Vale do Rio Doce, then known as CVRD, to private shareholders in an auction that raised R$3.34 billion for 41.73% of its voting capital.
Brazil’s 1997 auction of Companhia Vale do Rio Doce, now Vale, transferred voting control of the mining company to a domestic consortium for R$3.338 billion. The deal became a defining moment in the country’s broader privatization program.
Eletrobras’ 2022 capitalization reduced the federal government’s stake from 61.69% to 36.99%, ending its majority ownership. The transaction did not remove the state from Brazil’s wider power sector: Itaipu-related interests and nuclear operator Eletronuclear remained under federal control.