Iberdrola proposes to buy complete control of Neoenergia for $1.2 billion.

Iberdrola's Acquisition Offer: Iberdrola has proposed to buy the remaining 16.2% of shares in Brazil's Neoenergia for approximately 6.395 billion reais ($1.18 billion) to take the company private.

Strategic Focus: The acquisition aligns with Iberdrola's strategy to concentrate on markets with high growth potential, particularly in power grids that require upgrades due to increasing demand from data centers and clean energy initiatives.

Previous Stake Increase: This offer follows Iberdrola's recent increase of its stake in Neoenergia to 83.8% after acquiring a 30% stake from pension fund Previ for 32.50 Brazilian reais per share.

Analyst Insights: RBC Capital analyst Fernando Garcia noted that the full takeover would enhance Iberdrola's presence in Brazil's regulatory-friendly environment, which is beneficial for network investments.