Banco do Brasil plots Neoenergia exit

Banco do Brasil plots Neoenergia exit

Equity Corporate & Sovereign Strategy Economy & Policy Asset Management Brazil Europe

Banco do Brasil will likely sell its stake in Neoenergia when the local power company goes public in the first half of the year, LatinFinance has confirmed. Banco do Brasil CEO Rubem Novaes said earlier this week that the state-owned lender has already arranged the sale of its shares with Neoenergia's other shareholders, the Spanish utility company Iberdrola and the pension plan for Banco do Brasil employees, Previ. Neoenergia said last month that one of its shareholders had asked it to prepare

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