April 28, 2020 / 5:14 PM / a month ago

UPDATE 1-Brazil's Eneva still keen on AES Tietê merger, mulls new offer -source

(Adds stock exchange opinion on deal)

By Luciano Costa

SAO PAULO, April 28 (Reuters) - Brazilian electricity company Eneva SA is still interested in a merger with rival generator AES Tietê Energia SA and is mulling a new offer, a source familiar with the matter said on Tuesday on condition of anonymity.

The source said even after having its offer rejected by AES Tietê, Eneva’s board of directors may rediscuss the terms of a potential new offer in coming days.

Brazilian stock exchange B3 SA Brasil Bolsa Balcao agreed with the Eneva proposal that all shareholders vote in the deal, including the owners of preferred shares. The decision by stock exchange Director Flavia Fernandes was released on Monday.

AES Tiete had refused to submit the Eneva proposal to a shareholders assembly in which preferred shares would be allowed to vote, and Eneva said the decision went against the rules of the exchange segment AES is listed on.

Reporting by Luciano Costa Writing by Ana Mano Editing by Marguerita Choy

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