SAO PAULO, Jan 30 (Reuters) - Brazilian power company Copel sees 2024 as a year to "clean house," the company's CEO said on Tuesday, adding that the firm will focus on finishing an internal revamp and investing in its own assets.
The company's CEO, Daniel Slaviero, told journalists after an event organized by UBS in Sao Paulo that Copel's priority this year is to invest without using acquisitions.
He said the investments, which Copel sees at 2.4 billion reais ($483.75 million) in 2024, will be targeted toward its energy distribution resources, as well as to improve energy transmission assets and raise the capacity of its hydroelectric plants.
Copel, a former state-controlled company that was privatized last year in a share offer of $1 billion, is also focused on integrating its teams and areas after a volunteer layoff program last year that cut nearly a quarter of its work force, according to Slaviero.
He also mentioned Copel's efforts to sell non-core assets, such as its controlling stake in the natural gas distributor Compagas, for which he expects binding offers by the end of February. Other assets that could be sold include small hydroelectric plants, Slaviero added. ($1 = 4.9612 reais) (Reporting by Letícia Fucuchima; writing by Andre Romani; Editing by Leslie Adler)
