Chilean Enersis, the investment arm of Spain’s Endesa in Latin America, has purchased an additional 15 per cent stake in Brazil’s Coelce, raising its stake to 74 per cent.

The purchase was made as part of an IPO of shares announced and recently completed, according to Spanish news agency Efe.

Coelce is the state of Ceara’s electricity distribution company, supplying about 3.4 million customers. Its concession area covers 184 municipalities.

Enersis operates in the Brazilian market through Endesa Brasil, a subsidiary that controls the generators Endesa Fortaleza and Cachoeira Dourada, totaling 987 MW.

For more Business news.

For more Latin America news.