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Following the auction linked to the public takeover bid, Iberdrola has managed to secure an additional 14.2% of its subsidiary, Neoenergia. This progress brings its total holding to a solid 98%, leaving the firm one step away from absolute ownership in one of its most strategic territories.
The secured purchase of 14.2% of Neoenergia
Furthermore, the investor response has been massive, validating a price of 33.77 reais per ordinary share. This total outlay amounts to 5,826 million reais, equivalent to approximately 980 million euros. This valuation aligns with the previous purchase from PREVI, duly adjusted for the SELIC rate and recent dividends.
Indeed, this transaction stands as one of the most significant delisting processes in Brazil’s recent financial history. The intent is to simplify the management structure and boost growth in the electrical grid segment.
It is important to remember that this business represents the vast majority of Neoenergia’s activity, serving nearly 40 million users through an infrastructure exceeding 725,000 kilometers in length.
On the other hand, it is highly likely that the company will reach 100% ownership before the end of the second quarter of this year if the squeeze-out right is activated. This expansion in the South American giant is part of a global agenda for asset rotation and strengthening the energy matrix in strategic locations such as Australia and Spain.