Spanish company Iberdrola has completed the acquisition of Previ's (Banco do Brasil employees' pension fund) stake in Neoenergia, equivalent to 30,29% of the company's capital. The transaction, carried out at R$ 32,50 per share, represents an investment of over €1,92 billion, or approximately R$ 11,9 billion.
With this transaction, Iberdrola will hold 84% of the share capital of Neoenergia, which serves approximately 40 million Brazilians through five distributors located in Bahia, Rio Grande do Norte, Pernambuco, São Paulo, Mato Grosso do Sul, and the Federal District.
The company also owns more than 725 kilometers of distribution networks, 8 kilometers of transmission lines, and 3.800 MW of installed renewable generation capacity, predominantly from hydroelectric sources.
“With this operation, Iberdrola reaffirms its commitment to Brazil and takes a new step in its growth strategy based on the electricity grid business, in which it has 1,4 million kilometers of lines in the United States, United Kingdom, Brazil and Spain,” the company said in a press release this Friday (31).
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