*The Agencia Nacional de Energía Eléctrica (Aneel), Brazil’s electricity sector regulator, has approved the takeover of energy company Eletropaulo by Italian firm Enel. The regulator has given Eletropaulo 120 days to supply documents that show the formalisation of the deal and how it will affect company operations. The R$5.55bn (US$1.5bn) deal for 73.38% of Eletropaulo shares was finalised on 4 June following a fierce bidding war with Neoenergia, a subsidiary of Spanish firm Iberdrola. Eletropaulo attracted intense competition due to its client base in São Paulo, the most populous city in Brazil, but Enel eventually won with an offer of R$45.22 (US$11.91) per share compared to R$39.53 (US$10.41) from Neoenergia. As a result of the deal Enel will become the largest energy distributor in Brazil in terms of both customers and assets.
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