AES Tietê rejects merger proposal made by Eneva

According to the board of directors of AES Tietê, the company will not merge with Eneva. The decision was unanimous and the reason for the rejection would be the incompatibility between the businesses of the two companies.

Among the various reasons cited by the company for the refusal of the offer, is the fact that AES Tietê has a strategic planning of search for clean and sustainable energy generation. In contrast, Eneva "has its business model focused on the generation, exploitation and production of hydrocarbons, focusing on thermal generation based on natural gas and coal mineral," the council said.

The document also cites "uncertainties and risks related to eneva's activities, to which AES Tietê's shareholders would be exposed" if there was a merger. "In the view of the Board of Directors, the exchange relationship proposal by Eneva does not compensate for the assumption of such risks", concluded the Council.

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