BNDESPar Takes Renova Stake

The board of Brazil’s Renova Energia has approved the sale of a BRL315m ($153m) stake to BNDESPar, Renova says. In the deal the investment arm of the BNDES development bank will buy 112.4m units at BRL28.00 each. Renova units stood at BRL31.49 Monday. Renova is also preparing a BRL300m debenture sale in Brazil’s domestic market.