October 15, 2019
Brazil's Light said it has agreed to sell its 17.2% stake in Renova Energia to a fund managed by the local investment bank Banco Modal for the symbolic amount of BRL1.00 ($0.24).
After the transaction closes, the investment fund, called CG I Fundo de Investimento em Participações Multiestratégia, has the option to sell the stake in Renova to the Minas Gerais state power company Cemig, Light said in a securities filing.
"The operations... are in line with the strategy of divesting from non-core a
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