Brazil: Enel seals a success with its public offer for Eletropaulo
Enel Brasil Investimentos Sudeste, an Enel subsidiary, received confirmation that its voluntary public offer for the purchase of the whole share capital of Eletropaulo Metropolitana Eletricidade de São Paulo was sealed with the successful acquisition of 73.4% of the company’s equity. In accordance with the rules of the Brazilian stock exchange, the operation will be sealed on 7 June with the payment of the purchase price and the transfer of the shares. The offer envisaged a price of 1.269 billion euros plus the price asked for the remaining shares of Eletroplaulo that will be transferred next 4 July which, as indicated above, will amount to approximately 343 million euros at the current exchange rate, to cover Enel Sudeste’s commitment to underwrite its own shareholding as well as the eventual shares not underwritten in addition to the planned capital increase of Eletropaulo of 1.5 billion Brazilian reais.
Eletropaulo is a strategic asset for Enel’s growth in Brazil as it operates in one of the Country’s most densely populated areas, characterised by a growing urbanisation trend in which power demand is expected to rise very significantly over the next years. This acquisition turns Enel into the Country’s largest electricity distribution company with 17 million customers and a market share of more than 20%.
Francesco Starace, CEO and General Manager of Enel stated: “The acquisition of Eletropaulo is an important step forward for our Group in Latin America, strengthening our leadership in the important Brazilian distribution market in line with our strategic plan and our particular focus on the large metropolises of the world. We bring to São Paulo our expertise as one of the largest network operators at global level, and certainly the one with the most advanced grids in terms of digitalisation, efficiency and resilience. This expertise will be deployed in the São Paulo grid, strengthening and digitising the network, delivering benefits to Eletropaulo’s clients and continuing to drive value for Enel’s shareholders.”
Dominican Republic: Export and Investment Forum on 28 and 29 June
An “Export and Investment Forum” will be held in Santo Domingo on 28 and 29 June on the sidelines of the Summit of Heads of State and Government of the SICA (Central American Integration System). The Forum aims to promote trade between the Countries of the SICA region and the Observer Countries and to promote a public-private debate on how to improve competitiveness, as well as to illustrate the opportunities offered by this Region to multinational corporations intending to diversity their investments and enter into partnerships with local businesses. The Forum will facilitate meetings between entrepreneurs of the Region and extra-SICA businesses in strategic sectors such as tourism, telecommunications, transport, food, industry, energy and infrastructure.
