Group offers 32.5 reais per share plus interest
Iberdrola has submitted a takeover bid for more than 16% of Neoenergia’s share capital.
The company said the operation would take its ownership from 83.8% to 100% with the aim of delisting the Brazilian subsidiary.
Iberdrola said it is offering 32.5 Brazilian reais per share, the same price paid on 31 October 2025 for the PREVI stake of 30.29%, updated by the official SELIC interest rate.
The company said a total disbursement of around 1,030 million is expected before adjustment for SELIC movements and assuming Neoenergia pays no intermediate dividend.
Iberdrola said the transaction will simplify Neoenergia’s structure, provide its operations and financing with greater flexibility and reduce costs associated with maintaining the trading of shares on the market.
The company said the move reaffirms its commitment to Brazil and to a growth model based on electricity grids, which account for 90% of Neoenergia’s business.
Neoenergia supplies electricity to nearly 40 million Brazilians through five distributors across Bahia, Rio Grande do Norte, Pernambuco, Sao Paulo, Mato Grosso do Sul and Brasilia and through 18 transmission lines.
The company said Neoenergia is present in 18 states and the Federal District, has more than 725,000 kilometres of distribution lines, 8,000 kilometres of transmission lines and 3,800MW of renewable generation mainly from hydroelectric sources.
Iberdrola said it has 1,400,000 kilometres of electricity transmission and distribution lines globally across the United States, the United Kingdom, Brazil and Spain.
