July 22, 2021
Brazilian renewable energy company Renova Energia said it had accepted a binding offer to sell its stake in the hydroelectric power plant business Brasil PCH to Abu Dhabi-based sovereign wealth fund Mubadala for BRL1.1 billion ($212 million).
Mubadala has the right to match any other bids that Renova could receive for Brasil PCH, the São Paulo-based company said in a securities filing on Tuesday.
Local business newspaper Valor Econômico reported last month that Mubadala had put forward an offer
Brazilian renewable energy company agrees to sell its 51% stake in Brasil PCH to the Abu Dhabi-based sovereign wealth fund for $212 mln