Brazil's Cemig GT to become Renova Energia's shareholder
Aug 12, 2013 - Brazilian power generation and transmission company Cemig GT, owned by Cemig (SAO:CMIG4), announced on Thursday it will become a shareholder in the local renewable energy developer Renova Energia (SAO:RNEW11).
Cemig GT closed an agreement with Renova Energia and its other shareholders RR Participacoes, Light Energia and Chipley SP Participacoes for its entry in the group of controlling shareholders. To do so, Cemig GT will subscribe for and get new shares to be issued by Renova. The price of Renova's issue will be of BRL 16,2266 (EUR 5.36/USD 7.143) per ordinary share.
(BRL 1 = USD 0.440/EUR 0.330)