Italy’s Enel SpA (ENEI.MI) bought 73 percent of the shares of Brazilian power company Eletropaulo in an offer at local exchange B3 on Monday, paying around 5.55 billion reais ($1.48 billion).

Eletropaulo shareholder acceptance of Enel’s offer put the Italian company over the 50 percent threshold that was necessary for it to win control of the Brazilian company. Enel paid 45.22 reais per each share, exchange B3 said.

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