May 9, 2018 / 11:51 PM / a year ago

Brazil's Renova Energia under investigation, shareholder Cemig says

SAO PAULO, May 9 (Reuters) - Brazilian renewable energy company Renova Energia SA is under investigation by police in the state of Minas Gerais, controlling shareholder Cemig said in a filing to the U.S. Securities and Exchange Commission on Wednesday.

According to the filing, Renova responded in January to a formal request received from the police in November 2017. The request was part of a probe into capital injections made by Renova’s controlling shareholders.

Renova’s other controlling shareholder, Light SA, is also controlled by Cemig.

Cemig and Renova could not immediately be reached for comment.

In the filing, Cemig, a power utility controlled by the Minas Gerais state government, said an independent company has been brought on to conduct an internal investigation of the matter and said it is too soon to know what impact the probe could have on financial results last year.

Cemig said it had not been notified of any additional probe by U.S. securities regulators or the U.S. Department of Justice, though it warned of the possibility of a corruption investigation. (Reporting by Luciano Costa Writing by Alexandra Alper)

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