US EditionUK Smart Meter Exit and Neoenergia Stake: Iberdrola Doubles Down on Regulated Assets
22 Articles
22 Articles
Iberdrola has reached an agreement for the acquisition of 30.29% that Caixa de Previdência owns dos Funcionários do Banco do Brasil (Previ) in its Brazilian subsidiary, Neoenergia, for about 1,880 million, according to the company that president Ignacio Sánchez Galán has reported on Thursday. Through this operation, Iberdrola, which until now had 53.3% of its Brazilian subsidiary, will go to control approximately 84% of the share capital of Neoe…
The company will reach 84% of its subsidiary Neoenergy, consolidating its position as majority shareholder
The Spanish energy company Iberdrola has closed an agreement for the acquisition of the shareholding of Caixa de Previdência dos Funcionários do Banco do Brasil (“PREVI”) in Neoenergia, consolidating its position as majority shareholder. The transaction contemplates the purchase of 30.29% that PREVI owns in Neoenergia, so that Iberdrola would control approximately 84% of the share capital. The agreed price, of 32.5 BRL/action, will represent a d…
Iberdrola has reached an agreement for the acquisition of the shareholding of Caixa de Previdência dos Funcionários do Banco do Brasil (“PREVI”) in Neoenergia, consolidating its position as majority shareholder. The transaction contemplates the purchase of 30,29 % that PREVI owns in Neoenergia, so that Iberdrola would control approximately 84 % of the company’s share capital. The agreed price, of 32.5 reales per share, will represent a disbursem…
UK smart meter exit and Neoenergia stake: Iberdrola doubles down on regulated assets
Ignacio Galán, Iberdrola’s executive chairman in his office. Image courtesy Iberdrola Iberdrola has completed its exit from the UK smart meter market, days prior to acquiring an additional 30% stake in Brazil’s Neoenergia; both hailed as strengthening the Group’s investment focus on regulated networks businesses. The Spain-based multinational utility giant has been looking to tap into the growth prospects offered by regulated networks businesses…
Iberdrola announced today that she bought the fat of 30.29% that Previ had in Neonergia, raising her participation in the electrical company to 83.8% of the capital. The transaction — which came up with speculation months ago by the market — went out to R$ 32.50 per action, a 15% loan in relation to closing yesterday, with Iberdrola disbursing R$ 11.95 billion. The operation of Neo Energia is below 3.3% at the beginning of the evening with the n…
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