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Financial News: ELETROPAULO: Enel Brasil Presents Bid For AES Corp

ELETROPAULO: Enel Brasil Presents Bid For AES Corp Stake In The Company

03/23/2018 - 16:16:00 (RTTNews)

(RTTNews) - Brazilian power company Eletropaulo received a proposal from Enel Brasil for the 17% stake indirectly held by AES Corporation in the company and regarding Enel's participation in a potential share offer.

In a statement, Eletropaulo said that "there is, to date, no definition as to the effective presentation of an offer, nor on structure and volume, or on the adoption of any alternatives proposed to the company."

AES Corporation said earlier this year that it reclassified the Eletropaulo as discontinued operations, but did not provide details on a potential sale of its stake in the Brazilian company. One of the alternatives might involve a secondary offering by AES Corp.

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