neoenergy, Brazilian subsidiary of Iberdrola, has completed the full acquisition of its distributor Neoenergia Cosern following a public takeover bid (OPA) on the São Paulo Stock Exchange (B3).
The acquisition is part of Neoenergia's expansion plan in the distribution segment and reinforces its commitment to a sustainable business model. According to the company, this investment reflects "confidence in Neoenergia Cosern's performance and the work of its employees." The distributor operates in 167 municipalities, covering a concession area of 53.000 square kilometers, and supplies electricity to 1,5 million customers, equivalent to 3,5 million people.
With this operation, Neoenergia strengthens its position in the northeast of Brazil and underlines its commitment to creating value for its stakeholders through responsible and sustainability-oriented management.
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