The planned IPO of Neoenergia, the biggest electricity company in Brazil and leader in Latin America by number of clients, with 13,4 million, has not gone ahead. The firm is the result of the merger between Iberdrola’s subsidiary Neoenergia and Elektro.
neoenergia merger Elektro
Neoenergia’s shareholders (Banco de Brasil, Previ and Iberdrola) have reached an agreement for Neoenergia to incorporate Elektro’s business and activity. This operation was on the cards and will be very positive for Iberdrola and its stock price