SAO PAULO (Reuters) - Italian utility Enel SPA (MI:ENEI) launched on Thursday a tender offer to purchase a 4.1% stake in its Brazilian power distribution company Eletropaulo Metropolitana (SA:ELPL3) that was still in the market, according to a securities filing.
Enel, through a Brazilian subsidiary, is offering to pay 48.28 reais per Eletropaulo common share, aiming to delist the company. Enel acquired Eletropaulo last year for around $1.5 billion.