July 4, 2017 / 10:01 PM / 7 months ago

Brazil's Renova confirms receiving formal bid from Brookfield

SAO PAULO (Reuters) - Brazil’s renewable energy company Renova Energia SA (RNEW11.SA) confirmed in a securities filing on Tuesday having received a formal bid from Canada’s Brookfield Asset Management Inc (BAMa.TO).

    Reuters reported on Monday that Brookfield offered to inject 800 million reais ($242 million) into Renova and buy a 16 percent stake in the firm owned by local power company Light SA (LIGT3.SA) for the equivalent of 9 reais a share. Renova did not disclose financial details of the bid. Its shares jumped 6 percent on Tuesday to 7.47 reais.

    Reporting by Tatiana Bautzer; Editing by Jonathan Oatis

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