By Giulia Petroni
Iberdrola SA said Friday that its subsidiary Neoenergia SA has won an auction for electricity distributor CEB Distribuicao SA after submitting a bid of 2.5 billion Brazilian reais ($482 million).
CEB Distribuicao distributes electricity to more than three million people in Brasilia, according to the Spanish energy company. Last year, it supplied a total of 6,577 gigawatt hours.
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(END) Dow Jones Newswires