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Braslia, 30 – While the Alagoas government is in conflict with the Federal Supreme Court (STF) to obtain compensation from the Union for the sale of Ceal, the distributor of Eletrobras energy, the economic zone includes, may result in an increase in the state's debt to the Union, according to the
State / Broadcast
. The badessment that the federal government ended up paying much more to the state of Alagoas by incorporating the distributor than receiving with privatization. Ceal was on the list of distributors that would be auctioned on July 26, but the STF's minister, Ricardo Lewandowski, granted a preliminary injunction against the suspension of the judiciary
to remove the company from the dispute .
The distributor belonged to the state of Alagoas until 1997, when it was federalised and incorporated by Eletrobras in a renegotiation agreement of state debts. In return, the Alagoan government received an advance of 229.7 million reais (at the time) from the Union, equivalent to half of the company's shares. The balance would be settled upon finalization of the privatization.
Ceal has negative net badets and the auction provides for a minimum amount of R $ 50,000 for the sale of the company. The devaluation of the distributor, according to a source of the economic zone, shows that the government of Alagoas should repay the Union.
Shortly after federalization, in December 1998, Unio even attempted to auction Ceal by charging a minimum price of R $ 346.5 million (at that time), but there was no no interested parties, an indication that the company was overvalued.
Agreement. The law that made the federations viable in the late 1990s predicts that if the amount obtained with privatization is less than the current value of the distributor's acquisition price, the difference will be made by Alagoas.
The contract signed between Alagoas and the federal government in the early years predicted that the acquisition price would be updated by the TJLP (now TLP)) plus a premium, a mail set in a context where the Basic interest rate, the Selic, was very high. Today, however, the TLP rises to 6.6% (per year), above the Selic rate (6.5% per year). The form of the courier has resulted in the appreciation of the price of the acquisition of Ceal by the Union far beyond the actual value of the company today.
On the basis of this agreement the economic zone estimates that Alagoas' debt will increase during privatization. According to sources from the economic team, the state's debt to the Union is already 6.7 trillion reais and could increase by a few billion, according to sources of the economic team
. 1.7 billion of this debt. We are victims of this story, says Secretary of State Treasury, George Santoro. For him, at the fair, the state was depreciated after the distributor had been 20 years under the Unio, without investments and loss of market value. The understanding that after so long, the purchase of Ceal by the Union has been characterized, which would generate the obligation to pay the second installment (through debt relief ).
In the year, the government requested the suspension of the privatization of Ceal to ensure that it is repaid before the auction. However, the state has presented a different account, according to which the company would have a value of 457.2 million R $ at the time – an amount greater than the minimum price of the auction failed. For the government, given the discounts provided for in the contract, the government should have received R $ 150.3 million, which, adjusted for March 2018, would reach R $ 1.7 billion. Lewandowski accepted Alagoas' arguments and granted the injunction, on the ground that it was necessary to avoid irreparable harm to the state.
The governor must fight for this. a fiscally and technically responsible role, said the secretary of finance of Alagoas. The information comes from the newspaper
The State of S. Paulo
.
(Idiana Tomazelli and Anne Warth)
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