|Day's Range||39.49 - 39.90|
|52 Week Range||32.04 - 40.09|
|PE Ratio (TTM)||31.81|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
After getting some stability from Brookfield Asset Management, the future is getting brighter for TerraForm Power.
The board of Brazilian utility Light SA has given its approval for Canada's Brookfield Asset Management Inc to enter exclusive negotiations to acquire its stake in renewable company Renova Energia SA, the company said in a securities filing. Light said that Brookfield's renewable energy unit in Brazil would have the right to negotiate exclusively for 60 days the acquisition of Light's stake in Renova and a cash injection into the company. Reuters first reported Brookfield's bid to buyout Renova in July 7.
The reluctance of Renova Energia SA's largest shareholder to give up management of the debt-laden Brazilian renewable power firm threatens to derail takeover talks with Brookfield Asset Management Inc, three people familiar with the matter said on Thursday. Power utility Cia Energética de Minas Gerais SA wants to be part of a Brookfield-led turnaround of Renova, two of the people said. The utility known as Cemig owns 34.2 percent of Renova.