Iberdrola Makes $1.2 Billion Offer to Reach Full Ownership in Neoenergia
By Adria Calatayud
Iberdrola said it is making an offer to buy shares it doesn't already own in Brazil's Neoenergia for about 6.395 billion Brazilian reais ($1.18 billion) in cash, with the goal of taking the company private.
The Spanish utility said Monday that it is offering the same price, adding interest and deducting potential dividends, as when it recently increased its stake in Neoenergia to 83.8%.
In September, Iberdrola launched an offer to buy Previ's 30% stake in Neoenergia for 32.50 Brazilian reais a share, or $2.2 billion in total.
Iberdrola said the latest offer and potential delisting seek to simplify Neoenergia's corporate and organizational structure.
A potential delisting will likely require Iberdrola reaching 90% ownership in Iberdrola, RBC Capital Markets analysts Fernando Garcia and Charlotte Mettyear wrote in a research note.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
November 24, 2025 09:12 ET (14:12 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States