Iberdrola seeks 100% ownership of Neoenergia
Spanish utility submits formal bid to acquire remaining 16.2% of Brazilian subsidiary Neoenergia, boosting network control.
Image for illustrative purposes
Brazil, Sao Paulo: Iberdrola has officially submitted a bid to acquire the remaining shares of its Brazilian subsidiary Neoenergia, aiming for full ownership. The documentation has been filed with the Brazilian Securities and Exchange Commission (CVM) and B3, the Brazilian Stock Exchange.
The company is offering $6.2 (32.5 Brazilian reais) per share, adjusted for official interest since the original stake acquisition and any dividends declared by Neoenergia. This follows Iberdrola’s November 2025 takeover bid for 16.2% of Neoenergia, which, if successful, would bring its total ownership to 100%.
The price offered matches that paid for the 30.29% stake previously held by Caixa de Previdência dos Funcionários do Banco do Brasil (PREVI), with adjustments for Brazil’s official SELIC interest rate and reduced by the extraordinary dividend declared on 31 December 2025.
With this transaction, Iberdrola strengthens its commitment to electricity networks and growth in Brazil. Neoenergia operates five distribution companies serving around 40 million customers across Bahia, Rio Grande do Norte, Pernambuco, São Paulo, Mato Grosso do Sul and Brasília. The company also manages 18 transmission lines, over 725,000 km of distribution lines, 8,000 km of transmission lines, and operates 3,600 MW of renewable generation, mostly hydroelectric, making it Brazil’s leading distribution group by customer numbers.
This move consolidates Iberdrola’s position in Brazil’s energy market and supports its long-term strategy in electricity networks and renewable energy.
Source: Iberdrola