Eletrobras announced to the market, on February 4, 2022, that it has adhered the leniency agreement executed between the Brazilian Office of the Comptroller General (“CGU”), the Brazilian Attorney General of the Union (“AGU”) and the conglomerate Andrade Gutierrez, for reimbursement purposes resulting from the Car Wash Operation.

The total amount due to Eletrobras is R$139,6 million (around $26.20 million), which shall be paid in 16 annual installments adjusted by the SELIC rate (basic interest rate).  The beneficiaries are Eletrobras holding (R$ 9,9 million) and its subsidiaries Chesf (R$ 9,9 million), Eletronorte (R$ 13,1 million), Furnas (R$ 63,1 million) and Eletronuclear (R$ 43,7 million). The amounts, with a reference date of August 2018, have not yet been recognized in Eletrobras’ financial statements.

According to Eletrobras, the company will also have access to information and documents obtained through the agreement and assess whether there are other appropriate compensation measures to be adopted.

The Leniency Agreement with Andrade Gutierrez provides for the adhesion of the state entities to benefit from the terms of the agreement. This requirement is not present in other agreements.

For more information, please contact Saud Advogados.