May 8, 2018 / 12:44 PM / 7 months ago

Brazil's Neoenergia requests arbitration over Eletropaulo deal

BRASILIA, May 8 (Reuters) - Neoenergia SA, Brazil’s largest utility by number of customers, has requested arbitration over issues related to an investment agreement it had signed with power distribution company Eletropaulo Metropolitana SA, according to a securities filing.

Under the terms of the April 16 agreement, Neoenergia would acquire Eletropaulo shares in an offering and could later fully take over the company. In a filing, Eletropaulo said the request for arbitration is “groundless,” since the investment agreement “has been fully complied with.” (Reporting by Bruno Federowski)

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