Brookfield places formal bid for Brazil's Renova: Reuters
Brookfield Asset Management placed a formal bid for control of Renova Energia SA, which would include 800 million reais (US$242 million) in fresh capital for the Brazilian renewable energy company, sources told Reuters. Under terms of the bid, a Brookfield-led group would buy the 16 percent stake that Light SA has in Renova at an equivalent of 9 reais per unit of Renova. The buyout would allow Light to exit Renova's controlling bloc, which is also formed by Cia Energética de Minas Gerais SA and RR Participações SA. The Brookfield-led group would then pour 800 million reais into Renova, effectively diluting RR and the utility known as Cemig, the sources said.
4 July 2017•2 mins read
