Mubadala gets preferential status in bid for Renova's assets

Mubadala has made a $211mln binding offer for Renova's 51% stake in Brasil PCH SA unit

  
A view of Mubadala Building in Abu Dhabi. Image used for illustrative purpose

A view of Mubadala Building in Abu Dhabi. Image used for illustrative purpose

Mubadala/ Handout via Zawya

SAO PAULO- Abu Dhabi's Mubadala Investment Company won the right to match any other higher bid for some assets of bankrupt Renova Energia SA, the energy company said in a securities filing on Wednesday.

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

($1 = 5.2205 reais)

(Reporting by Carolina Mandl; editing by Jason Neely) ((carolina.mandl@thomsonreuters.com; +55 11 5644 7703; +55 11 97116-3806;))


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