Enersis spends $242m on 15% Coelce stake

Enersis spends $242m on 15% Coelce stake

Equity

Enersis has expanded its reach in Brazil, buying 15.13% of Companhia Energetica do Ceara (Coelce) through a public tender offer, bringing its holding of the firm to 74%. The take-up rate on the offer means Enersis will spend around $242m equivalent buying the shares at BRL49 ($20) each. That is a 20.1% premium to the volume-weighted average over the 30 days before the offer was opened last month. Enersis would have spent $645m if all Coelce shareholders participated. As it was, Enersis bought mo

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