Enel, Iberdrola Get Brazil Antitrust Greenlight for Eletropaulo Bids
18 May 2018 - 6:12PM
Dow Jones News
By Alberto Delclaux
Both Enel SpA (ENEL.MI) and Iberdrola SA (IBE.MC) have received
the greenlight from Brazil's antitrust agency CADE for their rival
bids targeting Eletropaulo Metropolitana Electricidade de Sao Paulo
S/A (ELPL3.BR), according to regulatory filings.
with the Administrative Council for Economic Defense show.The
tender will take place June 4, while the deadline to amend the
existing bids is Thursday next week. The board of Eletropaulo has
until May 30 to give an opinion on the offers.
Enel's bid at 32.2 Brazilian reais ($8.73) a share is slightly
higher than Iberdrola's, which is offering BRL32.1 a share through
its Brazilian subsidiary Neoenergia S/A (NEOE3B.SM).
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
May 18, 2018 03:57 ET (07:57 GMT)
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