Enel has acquired an additional 17 % stake in Brazilian utility Eletropaulo for $ 500 m from US - based AES . Enel recently beat out Spain 's Iberdrola to acquire a 73 % stake in Eletropaulo , Brazil 's largest power distributor . US - based AES said it would exit the Brazilian power distribution business , focus on expanding its Brazilian renewables business and would use the proceeds from the sale to pay down debt .
Enel has acquired an additional 17% stake in Brazilian utility Eletropaulo for $310m from US-based AES. Enel recently beat out Spain's Iberdrola to acquire a 73% stake in Eletropaulo, Brazil's largest power distributor. US-based AES said it would exit the Brazilian power distribution business, focus on growing its Brazilian renewables business and would use the money from the sale to pay down debt.