June 28, 2019 |
Italy's Enel plans to spend BRL393m ($102m) to buy the remaining free float of Eletropaulo and remove the Brazilian power company from the B3 stock exchange in São Paulo.
Enel Brasil has offered to buy the 8.13m outstanding shares for BRL48.28 each, compared to the price per share of BRL45.22 that it paid for Eletropaulo in May last year. Enel spent BRL5.55bn for 94.4% of Eletropaulo, beating a rival offer from Spain's Iberdrola.
According to PricewaterhouseCoopers (PwC), Eletropaulo's shares
Italian utility plans to spend $100m and delist the Brazilian power company from the B3 stock exchange in São Paulo