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Iberdrola acquires 84% stake in Neoenergia, its subsidiary in Brazil
Iberdrola completes the purchase of its partner PREVI's stake in Neoenergia
Ignacio S. Galán, Executive Chairman of Iberdrola
Iberdrola completes the purchase of its partner PREVI's stake in Neoenergia [PDF] - The transaction is valued at more than €1.92 billion (11.95 billion Brazilian reais)
- With this transaction, Iberdrola strengthens its commitment to Brazil and to the regulated electricity networks business, in line with the strategic pillars presented at its Capital Markets Day
Iberdrola has completed the acquisition of Caixa de Previdência dos Funcionários do Banco do Brasil ("PREVI")'s stake in Neoenergia, amounting to 30.29% of the capital. Following the transaction, agreed upon in the spirit of full cooperation that has always governed relations between the two companies, Iberdrola now controls approximately 84% of the company's share capital.
The price of 32.5 reais per share, agreed on 10 September 2025, represents an outlay of more than €1.92 billion (11.95 billion Brazilian reais).
The transaction has received the relevant regulatory approvals, in accordance with the regulations applicable to this type of transaction.
Neoenergia supplies electricity to nearly 40 million Brazilians through five distributors (in the states of Bahia, Rio Grande do Norte, Pernambuco, Sao Paulo, Mato Grosso do Sul and Brasilia) and 18 transmission lines, making it the country's leading distribution group in terms of number of customers. Neoenergia has more than 725,000 kilometres of distribution lines and 8,000 kilometres of transmission lines and has 3,800 MW of renewable generation, mainly hydroelectric.
With this operation, Iberdrola reaffirms its commitment to Brazil and takes a new step in its growth strategy based on the electricity grid business, in which it has 1.4 million kilometres of lines in the United States, the United Kingdom, Brazil and Spain.