SGCC

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.
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ACS is under pressure to reduce debt by selling off assets throughout the world
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<div style="text-align: left;"> ACS is under pressure to reduce debt by selling off assets throughout the world </div>

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 seven electricity transmission assets are located across eight states in Brazil, and have a total length of about 2,792 km. Most of the assets are in operation, with the remainder expected to start commercial operation...

¬ Haymarket Media Limited. All rights reserved.

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