UAE's Mubadala wins preferential status in bid for Brazil-based Renova's assets

UAE - Mubasher: Abu Dhabi-based Mubadala Investment Company has been granted the right to match any other higher bid for some assets of bankrupt Renova Energia SA, a Brazilian renewable energy company, Reuters reported.

This announcement was made by Renova Energia in a securities filing on Wednesday.

Mubadala has offered 1.1 billion reais ($211 million) in a binding offer for Renova's 51% stake in Brasil PCH SA unit, which has 13 small hydroelectric plants.

Mubasher Contribution Time: 21-Jul-2021 11:18 (GMT)
Mubasher Last Update Time: 21-Jul-2021 11:18 (GMT)