Enel Brasil's investment arm Enel
Brasil Investimentos Sudeste on Tuesday launched a takeover bid
for Sao Paulo power company Eletropaulo Metropolitana
Eletricidade de São Paulo.
The bid is at 28.0 Brazilian real per share, sources said.
The overall investment expected "amounts to a maximum of 4.7
billion Brazilian real, at current exchange rates 1.1 billion
euros."
Italian electricity giant Enel said the bid is "conditional
on the acquisition of a total number of shares representing more
than 50% of the share capital".
ALL RIGHTS RESERVED © Copyright ANSA