Spanish energy group, Iberdrola, will buy all the assets of Ashmore Energy International (AEI), Reuters reports, citing Valor Economico. The deal, which is worth $8 billion, will include Brazilian distributor, Elektro.
In August, Iberdrola’s 39% owned Brazilian affiliate Neoenergia, had tendered a bid for Elektro in a deal valued at about $4 billion. Brazil’s CPFL Energia and BTG Pactual were believed to be potential buyers for Elektro.
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