CPPIB, GIC pull out of Eletrobras privatisation race

CPPIB, GIC pull out of Eletrobras privatisation race

Photo: Reuters

Singapore state investor GIC Pte and the Canada Pension Plan Investment Board (CPPIB) have not bought shares in Eletrobras privatisation offering because they demanded prices below what the Brazilian government was willing to accept, two sources with knowledge of the matter said on Friday.