Eneva makes another bid for AES Tietê

Eneva makes another bid for AES Tietê

M&A Capital Markets Equity Energy Electricity Brazil United States

Brazil's Eneva has submitted a new proposal to buy AES Tietê Energia, a local division of the US power company, according to a securities filing from Thursday. The Rio de Janeiro-based company offered to pay BRL728 million ($140 million) in cash plus 0.06539522 common share for every share in AES Tietê, equal to a 10% premium on the closing prices on Thursday. Shares in AES Tietê fell 9.12% to BRL15.55 on Friday, while shares in Eneva dropped 1.84% to BRL51.21. The entire deal is worth BRL7.5 bi

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