Brookfield extends Renova bid to controlling bloc: Reuters

Brookfield Asset Management Inc has extended a formal bid for control of Renova Energia SA the Brazilian renewable energy company’s entire controlling bloc, two people with direct knowledge of the situation said on Friday.

Under terms of the sweetened bid, Brookfield would buy the 16 percent stake that Light SA has in Renova at an equivalent of 9 reais per unit of Renova, the sources said. The same offer was made to Cia Energética de Minas Gerais SA and RR Participações SA, the people said.

An agreement between Brookfield, Renova and the controlling bloc could be signed as early as July 14, one of the people said, asking for anonymity because the negotiations are private.

Cemig and Light declined to comment, while calls to a Brookfield spokesman in São Paulo were not immediately answered.