ACS, Elecnor and Isolux have delivered three power transmission lines in Brazil so far controlled together with a 33% stake in each.
Under the deal, valued at an amount of 160.1 million euros, instead of controlling all three lines to 33%, each group will have 100% of the concessions, as reported Europa Press on industry sources.
The process has been materialized through three equity trading operations, as explained Elecnor to the National Securities Market (CNMV).
The transaction is part of the reorganization of the twelve awards electrical transmission lines that had three English companies in a consortium in Brazil.
restructuring deals in turn with the new strategy for the partners to move to monitoring and control majority stakes, instead of having minority percentages.
Under this reorganization, the consortium of ACS, Isolux and Elecnor sold last December, eight of these grants power (which have a total length of 4000 miles) to China State Grid group of about 1,400 million euros.
The agreement now affects three of the four awards that companies still control 33% in Brazil. The fourth, which is currently not part of the agreement, is also owned 33%.
After cross transmissions, Isolux will own 100% of the grant of Cachoeira Paulista Transmissora Energy (CPTE), Elecnor of the Vila do Conde Transmissora Energy and ACS of Porto Primavera Energy Transmissora.
To do this, Cobra, industrial subsidiary of ACS, has bought Elecnor the 33% stake in the dealership had power lines Transmissora Energy Porto Primavera (HIPC). The amount of the transaction is EUR 44.4 million.
also Isolux Elecnor also acquired the 33% stake in the dealership had Transmissora Energy Cachoeira Paulista (CPTE) by 39.7 million.
contrast, Elecnor has bought 66% share of ACS and Isolux added (33% each) in the electricity transmission concession Vila do Conde Transmissora of Energy for 76 million euros.
Via Europapress
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