May 12, 2017 / 8:05 PM / a year ago

Canada's Brookfield to become controlling shareholder in Brazil's Renova

SAO PAULO, May 12 (Reuters) - Canada’s Brookfield Asset Management Inc has agreed to buy Light SA’s stake in Brazilian renewable energy company Renova Energia SA to become controlling shareholder later, one source with direct knowledge of the talks said on Friday.

Brookfield will first acquire a 20.3 percent stake owned by Light in Renova, worth about 200 million reais ($64 million) considering market prices.

A second step to become controlling shareholder will be a capital injection of 800 million reais that will dilute current controlling shareholder, Centrais Elétricas de Minas Gerais SA, the source added, seeking anonymity because discussions are private.

Brookfield, Renova, Cemig and Light did not immediately comment on the matter.

$1 = 3.1227 reais Writing by Tatiana Bautzer; Editing by David Gregorio

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below