Enel acquires 1.48% of the total capital of the former Eletropaulo for R$146 million

SAO PAULO (Reuters) - Enel said on Thursday that it acquired 2,959,302 common shares issued by the former Eletropaulo, representing 1.48% of its total share capital, and remained in circulation 5,174,050 common shares, or 2.58% of the capital of the company. Enel, which aims to withdraw from trading on the B3 exchange the distributor's shares after acquiring control of the electricity last year, bought the shares for the unit price of 49.39 reais, totaling the value of about 146 million reais. With the takeover bid, the company aimed at cancelling eletropaulo's open company registration before the Securities and Exchange Commission under category "A" and conversion to category "B", which does not allow the issuance of convertible shares or securities. The company must promote, after the settlement of the offer, the redemption of the remaining shares, having already been convened extraordinary general meeting of Eletropaulo shareholders for November 26, aiming to deliberate on the compulsory bailout. The company said the company's issuing shares will continue to be traded in b3's special listing segment until the compulsory redemption approved or the completion of the registration conversion, whichever comes first.