Iberdrola launches a public offer to acquire 100% of Neoenergia in Brazil

Iberdrola has launched a public takeover offer for the 16.2% of its Brazilian subsidiary Neoenergia it does not yet own, aiming to delist it and fully consolidate its presence in the country. The Spanish group, which already controls 83.8% of Neoenergia, is offering 32.5 BRL ($6.50) per share, the same price paid for the recent acquisition of Caixa de Previdência dos Funcionários do Banco do Brasil’s (PREVI) stake at the end of October. The offer is adjusted by the official Brazilian interest rate (SELIC) calculated from that date.