UPDATE - Eletropar sells Eletropaulo stake for USD 25m

Author: Bahador. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

July 17 (Renewables Now) - Eletrobras Participacoes SA (BVMF:LIPR3), also known as Eletropar, announced on Monday it has finalised the sale of its stake in Brazilian power distributor Eletropaulo (BVMF:ELPL3) for BRL 95.37 million (USD 24.7m/EUR 21m).

Eletropar has sold over 2 million shares at about BRL 45.22 apiece, according to the announcement.

Last month, Italian energy major Enel SpA (BIT:ENEL) bought a 73.4% stake in Eletropaulo for BRL 5.55 billion and has now built an ownership interest of 93.3% in the company, according to a recent regulatory filing.

(BRL 1.0 = USD 0.259/EUR 0.221)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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