November 28, 2019
Italy's Enel has set aside BRL256 million ($60.4 million) to buy out the remaining shareholders in Eletropaulo, now known as Enel Distribuição São Paulo.
The energy company has offered to pay BRL49.46 per share for the 5.17 million shares it does not own in its São Paulo subsidiary, equal to a 2.58% stake in the company. It plans to make the payments on December 5, it said in a securities filing. Itaú is managing the deal.
Last week, when Enel acquired an additional 1.48% stake for BRL146 millio
Italian energy company sets aside $60 mln to acquire full control of its São Paulo subsidiary and remove it from the B3 stock exchange