Italy’s Enel raises takeover bid for Brazil’s Eletropaulo to $1.54bn

SAO PAULO: Brazil power company Eletropaulo Metropolitana said in a securities filing that Italy’s Enel has raised its takeover bid for the company to 32.20 reais per share.

The bid values Eletropaulo at 5.39 billion reais ($1.54 billion) and tops an offer by Neoenergia SA, controlled by Spain’s Iberdrola SA on Wedsnesday for the Brazilian company at 32.10 reais per share.