October 17, 2019 / 10:20 AM / a month ago

Brazilian court okays Renova Energia's filing for bankruptcy protection

SAO PAULO, Oct 17 (Reuters) - A Brazilian court has accepted a bankruptcy protection request filed by renewable energy firm Renova Energia SA, the company said in a securities filing late Wednesday.

Renova Energia said earlier on Wednesday its bankruptcy filing involved a total debt of 3.1 billion reais ($745.5 million).

The announcement, which drove its shares sharply lower, came two days after key shareholder Light SA sold its 17.17% stake in Renova to an investment fund for a symbolic value of 1 real. (Reporting by Gabriela Mello; Editing by Mark Potter)

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