GIC completed the acquisition of a portfolio of Brazil transmission assets from Iberdrola for BRL2.4bn.

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.