State Grid Brazil Power Participações tender offer for CPFL Energia

Overview:

• State Grid Brazil Power Participações has made a tender offer for the stake in CPFL Energia that it does not already hold. 
• The company is offering $7.78 for each CPFL Energia share.
• State Grid is willing to acquire 45.36% of the issued share capital - which equals to 761,749,929 common shares.
• Banco Santander and Bank of America Merrill Lynch have acted as underwriters.

Katrin Kostadinova - Data analyst