July 19, 2018 / 11:37 AM / in 8 months

Italy's Enel keen to acquire more than three power distributors in Brazil: report

SAO PAULO (Reuters) - Italy’s Enel SpA eyes more three electricity distributors in Brazil after acquiring a major stake in power company Eletropaulo Metropolitana Eletricidade de Sao Paulo SA, Chief Executive Francesco Starace said in an interview with newspaper Valor Econômico on Thursday.

Starace said Enel was interested in the acquisition of Light SA, controlled by the state-run electricity company Companhia Energetica de Minas Gerais. Other targets include two Eletrobras distributors.

Last month, Enel made a big move in Brazil to become the nation’s largest electricity distributor, acquiring a majority stake in Eletropaulo for 5.55 billion reais ($1.44 billion).

Enel did not immediately comment on the matter.

Reporting by Carolina Mandl; Editing by Bernadette Baum

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