E.ON expands in Brazil

Germany’s biggest power supplier E.ON will increase its stake in Brazilian electricity producer MPX to just over 36%. E.ON which already acquired an 11.7% stake in MPX, a unit of EBX in April 2012 and its Brazilian partner EBX have agreed on the increase of E.ON’s stake in MPX.”

The company said that in the first step, E.ON will acquire 24.5% of MPX from EBX and in a second step, MPX would undertake a capital increase to which E.ON would subscribe. The total investment for E.ON would amount to around EUR 800M.

 CEO of E.ON Mr Johannes Teyssen said that “Today’s announcement is a confirmation of E.ON’s strategic belief in the growth opportunities the Brazilian market offers with its positive outlook on long term power demand and economic growth prospects.”

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