Iberdrola raises stake in Brazilian business Neoenergia to 84% for $2.2 billion

Core Viewpoint - Spanish power utility Iberdrola has acquired a 30.29% stake in its Brazilian subsidiary Neoenergia from the Brazilian pension fund Previ for 11.95 billion reais, equivalent to $2.21 billion [1] Company Summary - Iberdrola has increased its ownership in Neoenergia, enhancing its position in the Brazilian energy market [1] - The acquisition reflects Iberdrola's strategy to strengthen its investments in renewable energy and expand its footprint in Latin America [1] Financial Summary - The transaction value is reported at 11.95 billion reais, which translates to approximately $2.21 billion [1] - The stake acquired by Iberdrola amounts to 30.29%, indicating a significant investment in Neoenergia [1]