Enel increases stake in Eletropaulo

Enel increases stake in Eletropaulo

Equity Capital Markets M&A Energy Electricity Brazil Europe

Italy's Enel said it has spent BRL146 million ($34.9 million) for an additional 1.48% stake in Eletropaulo, the latest step in delisting shares in the local power company from the B3 stock exchange in São Paulo. According to a securities filing, Enel paid BRL49.39 per share for 2.96 million shares in Eletropaulo, which is now known as Enel Distribuição São Paulo. In May 2018, when Enel outbid Spain's Iberdrola for 94.4% of Eletropaulo, it offered BRL45.22 per share, or a total of BRL5.55 billion

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