Announced
Completed
Financials
Tags
Cross Border
Private
Brazil
electric transmission assets
Electricity Distribution
Acquisition
Majority
Private Equity
Friendly
Single Bidder
Completed
Infrastructure
Synopsis
GIC, an institutional investor, completed the acquisition of a portfolio of Brazil transmission assets from Iberdrola, an electric utility company, for BRL2.4bn. In addition, Iberdrola and GIC have signed a framework agreement to jointly participate in future tenders for new electricity transmission assets in Brazil. With the closure of the agreement, Neoenergia will stop accounting for the debt consolidation of the operational assets, as outlined in the scope of the transaction.
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