Renova Energia is starting the process of selling one of its most relevant assets, which is the 51% stake it holds in Brasil PCH. The sale will take place through a competitive process, in compliance with its judicial reorganization plan, and has a binding proposal in the order of BRL 1.1 billion formulated by Mubadala, which is participating as a stalking horse. By virtue of the proposal, Mubadala has the right to match any superior offers made by third parties. The outcome of the competitive process will take place on 16 August, when all proposals will be known. Felsberg Advogados is advising Renova Energia.
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