PREVI (Caixa de Previdência dos Funcionários do Banco do Brasil) is a Brazilian closed, non-profit pension fund dedicated to managing the retirement plans of Banco do Brasil employees. Established over a century ago, it is one of the largest pension funds in Brazil and Latin America by assets, serving active and retired participants and their beneficiaries.
The fund oversees defined-benefit and defined-contribution plans and invests with a long-term horizon across a diversified portfolio that includes equities, fixed income, real estate, infrastructure, and private equity. As a major institutional investor, PREVI plays a significant role in Brazilian capital markets, emphasizing prudent risk management and corporate governance to support the sustainability of its participants’ pensions.
The sale includes five gas plants and four biomethane projects, aligning with a strategy to focus on electrification and renewable growth.
Iberdrola offers 32.5 reais per share for Neoenergia's remaining stake, aiming to simplify operations, enhance flexibility, and cut costs. The move underscores commitment to Brazil's electricity sector.
Iberdrola now controls 84% of Neoenergia, investing €1.92 billion. Neoenergia leads Brazil's distribution with 40M customers and 3,800 MW renewable capacity.
Iberdrola buys PREVI's 30.29% stake in Neoenergia, boosting its share to 84%. The deal awaits regulatory approval. Neoenergia serves 40M Brazilians and leads in infrastructure investment.
