April 17, 2018 / 10:18 AM / 8 months ago

Brazilian utility Neoenergia to acquire stake in Eletropaulo

SAO PAULO, April 17 (Reuters) - Neoenergia SA, Brazil’s largest utility by number of customers, has offered to acquire a stake in Brazilian power distribution company Eletropaulo Metropolitana SA, both companies said in securities filings on Tuesday.

The transaction may evolve to a full takeover of Eletropaulo by Neoenergia, the companies said. Neoenergia, which is controlled by Brazilian pension funds and Spain’s Iberdrola SA , will pay 25.51 reais ($7.46) per Eletropaulo share in a share offering the distribution company is planning.

$1 = 3.4191 reais Reporting by Tatiana Bautzer, editing by Louise Heavens

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below