Deals
China’s State Grid Said to Bid for Abengoa Brazil’s Power Lines
- Company has seven operating transmission lines in Brazil
- Abengoa got approval for bankruptcy protection in February
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State Grid Corp. of China made a bid to acquire Abengoa SA’s power-transmission lines in Brazil, according to two people with knowledge of the matter.
The world’s largest power utility made an offer this month to buy Abengoa’s assets in operation in the country, both people said, asking not to be identified as the information is private. Government controlled State Grid agreed to pay $1.8 billion for a stake in Brazil’s CPFL Energia SA earlier this month.