Brookfield proposes Brazil's Renova buyout: Reuters

Brookfield Asset Management Inc has proposed buying out Renova Energia SA's controlling bloc as part of a sweetened bid to take over the debt-laden Brazilian renewable energy firm, sources told Reuters. Canada's Brookfield, which has made a number of high-profile infrastructure and energy acquisitions in Brazil over the past year, would pay Renova's controlling bloc about 810 million reais (US$247 million) for their stakes and pump about 800 million reais (US$242 million) worth of fresh capital into the company. One source said Brookfield's sweetened bid should trump a competing proposal by Oaktree Capital Management LP.

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