By Rogerio Jelmayer
SAO PAULO--Brazilian electricity generator and distributor
Neoenergia SA (GNAN3B.SM) said late Thursday that it is in talks to
acquire a 58% stake in local power generation company Itapebi
Geracao de Energia S.A.
The company, which did not disclose the potential value of the
acquisition, said that of the total stake to be acquired, 19% is
held by the investment bank unit of state-run bank Banco do Brasil
SA (BBAS3.BR).
Another 16.4% is controlled by Previ, the pension fund of
workers of Banco do Brasil, while 22.6% is controlled by Spanish
utility Iberdrola SA (IBE.MC).
In a separate statement, Banco do Brasil confirmed the
talks.
Itapebi posted gross revenue of 334 million Brazilian reais
($145 million) in 2012 and a net profit of BRL186 million.
The transaction must also be approved by regulatory bodies,
Neoenergia said.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires