Brazil’s Temer Said to Eye Privatizations to Plug Budget Gap

Brazil’s Acting President Michel Temer is studying the sale of state assets to shore up public accounts, as well as an audit of the country’s largest savings bank, said a government official with direct knowledge of the matter.

A government task force will consider selling stakes in companies such as power utility Furnas Centrais Eletricas SA and BR Distribuidora, a unit of Petroleo Brasileiro SA, the oil producer known as Petrobras, said the official, who asked not to be named because the plans haven’t been made public. The intention is to help plug a near-record budget deficit and improve the efficiency of state-owned enterprises.

Petrobras’s preferred shares rallied as much as 1.6 percent on the report, after posting losses during most of the morning.

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