Brookfield close to buying stake in Brazil's Renova: Reuters

Brookfield Asset Management is nearing an accord to buy a 30 percent stake in Renova Energia SA, which would include 800 million reais (US$258 million) in fresh capital for the Brazilian renewable energy company, a source told Reuters. Under terms of the deal, Canada's Brookfield would purchase the 15.7 percent stake that Light Energia SA has in Renova and then pump fresh cash into the company. Last year, Renova struggled with a severe cash crunch. By injecting capital, Brookfield is giving Light a chance to exit the company while diluting the other two members of Renova's controlling bloc.

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