July 26, 2017 / 5:07 PM / a year ago

Body at Brazil regulator recommends approval of Neoenergia deal

SAO PAULO, July 26 (Reuters) - A report from a technical body at Brazil’s power sector regulator Aneel published on Wednesday recommends the approval of Elektro Redes SA’s takeover by Neoenergia SA, a deal announced in June.

The deal should be analyzed soon by Aneel’s board, the last regulatory step needed before shareholders led by Spain’s Iberdrola SA can proceed with an initial public offering of Neoenergia shares, expected for September. The company plans a dual listing that could value Neoenergia at $11 billion, Reuters published on July 14. (Reporting by Luciano Costa; Writing by Tatiana Bautzer)

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