Brookfield mulls higher bid for Brazil's Renova: Reuters

Brookfield Asset Management is considering increasing its offer for Renova Energia SA by 25 percent, in a bid to sway the two largest investors in the Brazilian renewable power company to exit their controlling stakes, sources told Reuters. Under terms of a revised bid, Brookfield would offer power utility Cia Energética de Minas Gerais SA and subsidiary Light SA 11.25 reais per unit of Renova, the sources said. Brookfield had originally submitted a bid valuing Renova at about 9 reais per unit. Brookfield would have to disburse about 1 billion reais (US$321 million) to win control under a revised bid. It could either pump an extra 800 million reais into Renova or take the company private.

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