AES Tietê Energia S.A. (BOVESPA:TIET4) signed a binding offer to acquire Renova Eólica Participações S.A. from Renova Energia S.A. (BOVESPA:RNEW11) for BRL 1.9 billion on January 12, 2017. AES Tietê Energia S.A. (BOVESPA:TIET4) entered into an agreement to acquire Renova Eólica Participações S.A. from Renova Energia S.A. (BOVESPA:RNEW11) on April 18, 2017. Under the terms of the deal, AES Tietê will pay BRL 600 million as acquisition price. In addition to the payment of the acquisition price, AES Tietê will assume project debt of Alto Sertão II in the amount of BRL 1.2 billion. Additionally, the price could increase through an earn-out mechanism of up to BRL 100 million, if the generation performance of the Alto Sertão II Wind Complex, measured over a period of five years from the date of the closing of the transaction, exceeds a minimum assumed reference level. The acquisition price is subject to usual adjustments. AES Tietê Energia S.A. will acquire Alto Sertão II Wind Complex as part of the transaction. The transaction is subject to approval by regulatory agencies and the Board of Directors of Renova Energia, Renova Energia S.A shareholders approval, satisfactory negotiation of the final documents, satisfactory conclusion of AES TIETÊ’s ongoing legal, technical and accounting due diligence, necessary corporate approvals, attainment of the Administrative Council for Economic Defense’s approval and the preliminary approval of Alto Sertão II Wind Complex’s creditors. AES Tietê shall call a special shareholders’ meeting to deliberate on the approval of the transaction. On January 20, 2017, the transaction was approved by the Board of Directors of Renova Energia S.A. As of May 31, 2017, the transaction was approved by AES Tietê Energia S.A's shareholders. The closing of the transaction is expected during the third quarter of 2017.