Brazil Energy Firm Eneva Announces Secondary Share Offering

Brazilian energy firm Eneva SA announced a secondary offering of 49.97 million shares in a securities filing on Wednesday, confirming an earlier Reuters report. The firm, which owns gas-fired power plants and natural gas exploration and production assets in northeastern Brazil, said shareholders Itau Unibanco Holding SA, Uniper Holding GmbH, Banco BTG Pactual SA, Banco Pine SA , and Dommo Austria GmbH, a unit of Brazil’s Dommo Energia SA, plan to sell shares in the offering, Reuters reported. According to the closing share price of Eneva on Tuesday, the secondary offering may be worth about 930 million reais ($237 million). Banks Itau BBA, Santander Brasil SA, BTG Pactual, and Citigroup Inc’s Brazil unit will manage the offering, confirming the earlier report by Reuters. Eneva, which filed for bankruptcy in 2014, was part of a stable of companies in which the tycoon Eike Batista — who was found guilty of bribery after his once-promising investments floundered — had a stake. Read more

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