Eneva buys stake in AES Tietê

Eneva buys stake in AES Tietê

M&A Equity Capital Markets Corporate & Sovereign Strategy Brazil US

Brazilian power generation company Eneva said on Thursday that it acquired a 0.5% stake in AES Tietê in an effort to ramp up pressure on the rival company to enter negotiations for a possible merger. Eneva paid BRL33.9 million ($7.07 million) for 2 million units in AES Tietê, comprising both common shares and preferred shares at an average price of BRL16.94 per unit. The stake represents 0.25% of all common shares, 0.66% of preferred shares and 0.5% of AES Tietê's overall stock capital, accordin

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