Oaktree enters race for Brazil's Renova: Reuters
Oaktree Capital Management LP has entered the race to buy control of Renova Energia SA with a proposal that would inject fresh capital and help refinance part of the Brazilian renewable energy firm's debt maturing this year, sources told Reuters. Oaktree would pay 170 million reais (US$51 million) for Light SA's 16 percent stake in Renova and spend another 1.2 billion reais to dilute Renova's controlling bloc, the sources said. Los Angeles-based Oaktree, the world's biggest distressed debt investor, is competing with Canada's Brookfield Asset Management Inc for the company. Renova this week confirmed a July report by Reuters that Brookfield has made a non-binding proposal for control.
6 July 2017•3 mins read
