State Grid International Development Limited and Camargo Correa S.A. signed a Share Purchase Agreement pursuant to which it is expected that SGID will acquire an approximately 23.6% stake of CPFL Energia. The official signing ceremony between SGID and CCSA was held in Shanghai. Mr.Yang Qing, Executive Vice President of State Grid Corporation of China, and Mr.Claudio Palaia and Mr.Marcelo Pires, members of the Board of Directors of Camargo Corrêa, attended the ceremony in the presence of Mr. Michel Temer, President of Brazil and Mr.Yang Xiong, Mayor of Shanghai, as well as other Chinese and Brazilian officials. In addition, Mr.Temerheld an official meeting with SGCC and CPFL before the signing ceremony. The closing of the transaction is expected to take place after the approvals by the relevant public authorities, including Brazilian antitrust agency and the National Electricity Regulatory Agency. In the event that sufficient CPFL shareholders that are party to the CPFL shareholders agreement exercise their tag along rights, and transaction closings ultimately occur with respect to a sufficient number of CPFL shares, SGID will be required, pursuant to applicable law, to conduct a public tender offer for the free float of CPFL. The transaction is another significant milestone in the internationalization strategy comprehensively promoted by SGCC and provides a stepping stone to co-operation in the energy and power sector amongst China and Brazil.