Light Energia to Sell 15.87% Stake in Renova Energia to SunEdison
07.21.15
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Simpson Thacher represented Light Energia S.A. (“Light Energia”), a wholly owned subsidiary of Light S.A., a leading Brazilian electricity utility based in Rio de Janeiro, in connection with the announced sale of 50,561,797 common shares, representing its 15.87% stake, of Renova Energia, a renewable energy company, to SunEdison Inc. for US$250 million. The payment will be performed upon the closing of the transaction through the delivery of new shares issued by SunEdison (NYSE: SUNE).
Light Energia is an electricity generation company. The generating park comprises six hydroelectric power plants and two pumping stations, with installed capacity of 855 MW and 549 MWm of assured energy.
The Simpson Thacher team included Grenfel Calheiros and Jessica Finz (M&A – São Paulo); and Todd Crider (M&A – New York and São Paulo).