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...
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