Germans Increase MPX Stake

Germans Increase MPX Stake

Brazil Equity M&A

Germany’s E.ON has agreed to pay at least BRL1.78bn ($886m) to increase its stake in Brazil’s MPX, MPX says, through a direct purchase of shares from controller Eike Batista and participation in a planned equity follow-on. Batista has agreed to sell 142m shares, or 24.5%, of the power generation company to E.ON, at BRL10.00 each, a price adjustable to as much as BRL11.00 each depending on certain conditions. The move takes E.ON to a 36.2% position. MPX plans to follow this with a public follow-o

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