Iberdrola SA mentioned Thursday it has raised its stake in Brazil’s Neoenergia to 98 %, beneath a full takeover bid it launched late final yr.
The Spanish energy and fuel utility mentioned in a web-based assertion it may purchase 100% of Neoenergia “within the coming weeks” if the latter workouts its proper of squeeze-out.
When it launched the takeover bid November 24, 2025 Iberdrola owned 83.8 % in Neoenergia. Iberdrola had already acquired a 30.29 % curiosity held by Banco do Brasil’s pension fund, PREVI.
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The most recent spherical of share purchases amounted to 14.2 % of Neoenergia. The most recent supply was priced BRL 33.77 ($6.6) per share, totaling round BRL 5.83 million.
“The worth is equal to the value paid final October for the acquisition of the 30.29 % stake in PREVI (32.5 reais per share), adjusted for Brazil’s official rate of interest (SELIC), and diminished by the particular dividend declared by Neoenergia on 31 December 2025”, Iberdrola mentioned.
“The supply stands out as one of many largest delisting transactions thus far in Brazil, and for reaching one of many highest acceptance charges within the nation”, it added.
“The transaction, accomplished at very enticing a number of valuations, has had a constructive impression on Iberdrola’s outcomes from the very first yr and reinforces its dedication to Brazil and to development centered on electrical energy networks, which account for 90 % of Neoenergia’s enterprise”.
Neoenergia powers about 40 million Brazilians by 5 distribution corporations in Bahia, Brasilia, Mato Grosso do Sul, Pernambuco, Rio Grande do Norte and São Paulo, making it the South American nation’s largest electrical energy distributor by way of buyer quantity, in line with Iberdrola.
Neoenergia has 3,600 megawatts of largely hydro renewable technology capability, over 725,000 kilometers (450,494.11 miles) of distribution traces and eight,000 kilometers of transmission traces, in line with Iberdrola.
Iberdrola has allotted Brazil EUR 7 billion ($8.2 billion) in its plan to speculate EUR 58 billion throughout its world portfolio by 2028, as introduced by the corporate September 24, 2025.
To contact the creator, e-mail jov.onsat@rigzone.com
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