Brazil allows Enel offer for Eletropaulo

Brazil allows Enel offer for Eletropaulo

M&A Equity Capital Markets Energy Electricity Brazil

Brazilian securities regulator CVM has authorized a tender offer from Italy's Enel to buy the remaining free float in the local power company Eletropaulo.Enel bought 94.4% of Eletropaulo for BRL5.55bn ($1.35bn) last year. In June this year, the Italian company offered to spend BRL393m to acquire the rest and remove Eletropaulo from the B3 stock exchange in São Paulo.Enel Brasil spent BRL45.22 per share to acquire control of Eletropaulo last year. In the upcoming tender offer, which is expected t

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