October 18, 2019 / 10:44 AM / a month ago

Brazilian regulator approves Enel tender offer for Eletropaulo shares: filing

FILE PHOTO: The new logo of Italy's biggest utility Enel is seen inside its flagship store in downtown Milan, Italy, May 4, 2018. REUTERS/Stefano Rellandini

SAO PAULO (Reuters) - Brazilian securities regulator CVM has approved Italian utility Enel’s (ENEI.MI) tender offer to acquire all shares issued by power distribution firm Eletropaulo Metropolitana (ELPL3.SA), the Brazilian company said in a filing late on Thursday.

Enel, which acquired Eletropaulo last year for around $1.5 billion, aims to purchase a remaining 4.1% stake to delist the company.

Reporting by Gabriela Mello; Editing by Susan Fenton

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