Shareholders exercise right to match Mubadala’s bid for Renova’s assets

SAO PAULO, Sept 15 (Reuters) – Brazilian renewable vitality firm Renova Energia SA, which is working underneath chapter safety, mentioned that shareholders of its hydroelectric energy unit Brasil PCH determined to train their proper of first refusal and match Mubadala’s provide for a controlling stake in that firm.

In accordance with a securities submitting late on Tuesday, BSB Energética S.A. and Eletroriver S.A. have agreed to pay 1.1 billion reais ($209.93 million) for Renova’s 51% stake in Brasil PCH, which owns small hydroelectric damns, matching the UAE’s Mubadala Funding Firm’s earlier successful bid.

“The precise of first refusal follows strict guidelines, procedures, rights and duties of the events in Brasil PCH shareholders’ settlement”, mentioned Renova Energia, which has state-run energy firm Cemig as its prime shareholder. ($1 = 5.2398 reais) (Reporting by Gabriel Araujo, enhancing by Louise Heavens)