China's State Grid to buy Brazilian electric power transmission assets

State Grid Corporation of China pays $530 million to Spain's Actividades de Construcción y Servicios for Brazilian power lines.

China's State Grid to buy Brazilian electric power transmission assets
ACS is under pressure to reduce debt by selling off assets throughout the world

State Grid Corporation of China has agreed to buy 100% of the share capital of seven high voltage electricity transmission assets in Brazil from Spain’s Actividades de Construcción y Servicios ACS and affiliates.

The purchase by State Grid International Development SGID, a wholly owned subsidiary of State Grid, will be for a total equity consideration of R$1.05 billion, with assumed net debt of R$814 million as of April 30, 2012.

The...

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