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Exclusive: Neoenergia seeks $11 billion valuation in Brazil, U.S. IPO, sources say

Reuters  |  SAO PAULO 

By Tatiana Bautzer and Guillermo Parra-BernalSAO PAULO (Reuters) - Neoenergia SA, whose takeover of a smaller rival will turn it into Brazil's No. 1 power utility by customers served, is working on a dual initial public offering in São Paulo and New York that could value it at around 35 billion reais ($11 billion), three people with direct knowledge of the plan said.The IPO could be launched around September, when the people expect Neoenergia SA to have won industry regulatory approval for Elektro Eletricidade & Serviços SA's takeover. Antitrust agency Cade gave the nod to the takeover on ...

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First Published: Fri, July 14 2017. 21:00 IST