MADRID, 14 Mar. (EUROPA PRESS) -

The Brazilian subsidiary of Iberdrola, Neoenergia, has launched an offer to acquire 6.89% of the capital of its subsidiary Neoenergia Cosern for 163 million Brazilian reais (about 30 million euros), the company chaired by Ignacio Sánchez reported this Thursday. Prince.

Neoenergia has informed the Brazilian Securities Commission that it intends to acquire both the ordinary shares and the Class A and Class B preferred shares of Cosern. Currently, Neoenergia already owns approximately 93.11% of the distributor's share capital.

The offer is intended for the acquisition of all the shares in circulation, which is around 11.5 million shares, and Neoenergia will pay 13.73 Brazilian reais per share (2.52 euros) for the ordinary shares and 15.10 Brazilian reals (2.77 euros) for Class A and B preferred securities.

Iberdrola has highlighted that this operation, which is expected to close at the end of the year, will contribute to simplifying participation in Neoenergia's distribution companies.

The offer, which must still receive the required regulatory authorizations, is conditional on the acceptance of at least two-thirds of the shareholders to whom the operation is directed.

Neoenergia Cosern was created in 1961 and was under the control of the State Government until 1997, when it was privatized.

The company is present in 167 municipalities of Potiguares, has a concession area of ​​53,000 square kilometers and serves 1.5 million customers (3.5 million inhabitants).