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BREAKING NEWS

Italian utility Enel launches tender offer for Eletropaulo shareholders - filing

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SAOPAULO (Reuters) – Italian utility Enel SPA <ENEI.MI> launched on Thursday a tender offer to purchase a 4.1% stake in its Brazilian power distribution company Eletropaulo Metropolitana <ELPL3.SA> that was still in the market, according to a securities filing.

Enel, through a Brazilian subsidiary, is offering to pay 48.28 reais per Eletropaulo common share, aiming to delist the company. Enel acquired Eletropaulo last year for around $1.5 billion.

(Reporting by Carolina Mandl; Editing by Chizu Nomiyama)

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