December 21, 2020 |
Brazilian power company AES Brasil said Friday that it had board approval to merge AES Tietê with AES Brasil Energia and list the combined company on the Novo Mercado segment of the B3 stock exchange in São Paulo.
AES Brasil said in a securities filing that the corporate reorganization will allow the new holding company to increase leverage because only the assets owned directly by AES Tietê will be subject to the current limit of 3.85 times EBITDA.
"In addition to the 3.85x, the new projects wi
US power company's Brazilian business plans to merge two subsidiaries to enable it to take on more debt