In a notice to investors, Light said conditions of the 15 July agreement to sell SunEdison a 15.87% stake in Renova for an estimated $250m had not been met, forcing the two companies to break the agreement.
As a result, the second phase of a broad share swap and asset sale to TerraForm Global – involving 2.2GW of wind power assets and an estimated at R$13bn in value – was also cancelled, as it was conditioned on the sale of Light's Renova stake to SunEdison.
Light
