July 28, 2020
Brazil's Eneva has submitted a revised bid to buy AES Tietê Energia, offering more cash and fewer shares, after US-based AES Corp reportedly made a proposal to buy an additional stake in the local business.
Eneva offered to pay almost BRL2 billion ($389 million) in cash and 0.057504313 common share for every share in AES Tietê, equal to a 17% premium on the closing prices on July 23. In the previous offer, the Rio de Janeiro-based company put up BRL728 million in cash and 0.06539522 share for ev
Brazilian power company offers more cash and fewer shares after AES Corp makes a bid for BNDES' stake