Iberdrola Takes Control of Brazil's Neoenergia
By Andrea Figueras
Iberdrola said it would take control of Brazil's Neoenergia after it bought additional shares for a total consideration of 5.83 billion Brazilian reals, or $1.14 billion.
The Spanish utility said late Thursday in a statement sent to the country's markets regulator that following the offer it would control 98% of the share capital of Neoenergia through the purchase of around 172.5 million additional shares.
An extraordinary general meeting for shareholders of Neoenergia will be called to resolve on the acquisition of 100% of the share capital and subsequent mandatory redemption of the shares not tendered into the offer.
In November, Iberdrola unveiled plans to reach full ownership of the Brazilian company. The Spanish group said at the time that the offer and potential delisting was aimed at simplifying Neoenergia's corporate and organizational structure.
Settlement of the offer is scheduled for April 24, Iberdrola said, adding that shareholders of Neoenergia who didn't tender their shares into the offer and wish to sell them may do so until May 11.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
April 10, 2026 01:58 ET (05:58 GMT)
Copyright (c) 2026 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