In 1996, the Brazilian government tried to sell a large, federally-owned electricity distribution company in Rio de Janeiro for private investors. Competitive auction in Rio Light is being heralded as a test of the entire Brazilian privatization program, which was criticized in the national and international press for the slow pace and lack of results. As the date of the auction close, the director of the privatization of electricity in the Brazilian federal development bank fears that the minimum asking price for Rio Light was too high. Case presents pro forma financial information and can be used for discussion of relevant factors to estimate the cost of the state enterprise and success criteria for the auction. HKS Case Number 1540.0 "Hide
by Geoffrey Kirkman, Jay H. Walder 23 pages. Publication Date: June 1, 1999. Prod. #: HKS066-PDF-ENG
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