China Southern Power Grid Co. is considering a binding bid for Enel SpA’s distribution operations in Peru, according to people familiar with the matter, in what could be one of the largest cross-border deals by a Chinese buyer this year.
The Guangzhou-based state power firm is working with a financial adviser after entering into a second round of bidding and conducting due diligence, the people said, asking not to be identified because the matter is private. Enel’s Peruvian distribution assets, which could be valued at about $3 billion, have drawn interest from other firms in the industry as well as infrastructure funds, the people said.
