- Iberdrola acquired PREVI's 30.29% stake in Neoenergia.
- The transaction was priced at 32.5 reais per share, totaling over €1.92 billion.
- Iberdrola now holds approximately 84% of Neoenergia's share capital.
- Neoenergia serves nearly 40 million Brazilians with 3,800 MW renewable capacity.
Transaction Overview
Iberdrola has completed the acquisition of Caixa de Previdência dos Funcionários do Banco do Brasil (PREVI)'s 30.29% stake in Neoenergia. This transaction increases Iberdrola's control to approximately 84% of Neoenergia's share capital.
Financial Details
The purchase price was set at 32.5 reais per share, resulting in a total investment of over €1.92 billion, equivalent to 11.95 billion Brazilian reais. The transaction received all necessary regulatory approvals.
Neoenergia's Market Position
Neoenergia is a leading electricity distributor in Brazil, serving nearly 40 million people across several states, including Bahia, Rio Grande do Norte, Pernambuco, Sao Paulo, Mato Grosso do Sul, and Brasilia. The company operates five distributors and 18 transmission lines.
Infrastructure and Capacity
Neoenergia manages more than 725,000 kilometers of distribution lines and 8,000 kilometers of transmission lines. It also has a renewable generation capacity of 3,800 MW, primarily from hydroelectric sources.
