May 21, 2018 / 3:27 PM / 7 months ago

Neoenergia has consent from shareholders to bid for Eletropaulo -CEO

SAO PAULO, May 21 (Reuters) - Brazilian power company Neoenergia SA has consent from its main shareholders to present new offers to acquire a controlling stake in Eletropaulo Metropolitana SA, its Chief Executive Mario Jose Ruiz-Tagle told Reuters on Monday.

Neoenergia, controlled by Spain’s Iberdrola, is in a bidding war against Italy’s Enel SpA for control of Eletropaulo. Ruiz-Tagle said that Neoenergia’s main shareholders, such as Banco do Brasil SA and pension fund Previ, reached a consensus about the strategic importance to acquire Eletropaulo, Brazil’s largest power distribution company by revenue. (Reporting by Luciano Costa Editing by Chizu Nomiyama)

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