Enel beats out Iberdrola for Eletropaulo
Brazil 
SãO PAULO, June 1, 2018 – After a heated months-long battle with Iberdrola, Enel will soon acquire Brazilian power business Eletropaulo, the company said in a press release on Thursday.
Enel will offer EUR 1.757 million for Eletropaulo, which is more than the established offers by any other bidders.
“In accordance with the Brazilian regulations governing the offer, such price is the final price at which the shares tendered in the offer will be allocated to Enel Sudeste at an auction, which will take place on June 4, 2018 in São Paulo,” the statement read.
Eletropaulo currently has around 7 million customers. The acquisition will see Enel’s customer base grow to 17 million, making it the largest power company in Brazil.
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