Iberdrola Seeks To Buy Control Stake In Brazil Neoenergia -Report
28 Setembro 2011 - 7:40AM
Dow Jones News
Spanish utility Iberdrola (IBE.MC) is in talks to acquire a
controlling stake of Brazilian electrical energy generator and
distributor Neoenergia SA (GNAN3.BR), the Wednesday edition of the
local newspaper O Estado de S. Paulo reported.
According to the newspaper, which cited an unnamed person close
to the company, Iberdrola is planning to raise its stake in
Neoenergia to 60%. Currently, the Spanish company hold a 39% stake
in Neoenergia.
Contacted by Dow Jones Newswires earlier Wednesday, Iberdrola's
press officer was not immediately reached for comment.
Iberdrola is in talks to buy the stake in Neoenergia from local
pension fund Previ, the pension fund for employees of
government-run bank Banco do Brasil SA (BBAS3.BR).
-By Rogerio Jelmayer, Dow Jones Newswires; +55 11 3544 7071;
rogerio.jelmayer@dowjones.com