Brazil's Eletrobras May Buy Iberdrola's Stake in Neoenergia -Reuters
First Published Wednesday, 20th June 2012 04:33 pm - © 2012 Dow Jones
Brazilian utility Centrais Eletricas Brasileiras (EBR, ELET6.BR), or Eletrobras, is in talks to buy Iberdrola SA's (IBE.MC) 39% stake in power distributor Neoenergia (GNAN3B.SM), Reuters reported Wednesday, citing three senior officials with knowledge of the situation.
The report said national development bank BNDES and the pension funds of Banco do Brasil (BBAS3.BR, BDORY) and Petroleo Brasileiro SA (PBR, PETR4.BR) could help finance a deal.
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