Enel has acquired an additional 17% stake in Brazilian utility Eletropaulo for $310m from US-based AES. The deal is expected to close by the end of this year, with a final value of $32bn (£25bn). AES is also completing a regasification facility near Colon, Panama. 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.
Enel has acquired an additional 17% stake in Brazilian utility Eletropaulo for $310m from US-based AES. The deal is expected to close by the end of this year, with a final value of $32bn (£25bn). 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.