E.ON SE, Germany’s biggest utility, plans to buy as much as BRL 1.56 billion ($776 million) in shares of MPX Energia SA from billionaire Eike Batista making it the largest shareholder in the Brazilian company. E.ON agreed to acquire 25% of MPX’s shares from Batista for as much as BRL 11 a share, MPX said in a statement. The sale will reduce the billionaire’s stake to 24% from 54% and increase E.ON’s ownership to 36%. Batista and E.ON will reach a shareholders agreement to regulate voting rights at MPX, it said. MPX will also offer BRL 1.2 billion in shares to other investors to raise capital, the company said.
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