Brookfield Infrastructure Partners has closed its sale of a 27.8 percent stake in ETC Transmission Holdings SL, the parent company of Transelec SA, a Chilean power transmission business. The deal, announced late last year, was valued at US$1.3 billion. The buyer was Chinese state-owned China Southern Power Grid International (HK) Co Ltd. Based in Santiago, Transelec is Chile’s largest power transmission operation, with more than 10,000 kilometres of electricity lines serving about 98 percent of the population. Brookfield Infrastructure was part of a group that acquired Transelec in 2006.
Brookfield Infrastructure Completes Sale of Chilean Transmission Business
BROOKFIELD, NEWS, March 15, 2018 (GLOBE NEWSWIRE) — Brookfield Infrastructure (NYSE:BIP) (TSX:BIP.UN) today advised that it has completed the previously announced sale of its approximate 27.8% interest in ETC Transmission Holdings, S.L., the parent company of Transelec S.A. (“Transelec”), to China Southern Power Grid International (HK) Co., Ltd. for US$1.3 billion.
Santander GCB and Scotiabank acted as financial advisors to Brookfield Infrastructure and Goodmans LLP acted as legal advisor.
Brookfield Infrastructure Partners is a leading global infrastructure company that owns and operates high quality, long-life assets in the utilities, transport, energy and communications infrastructure sectors across North and South America, Asia Pacific and Europe. We are focused on assets that generate stable cash flows and require minimal maintenance capital expenditures. Brookfield Infrastructure Partners is listed on the New York and Toronto stock exchanges. Further information is available at www.brookfieldinfrastructure.com.
Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a leading global alternative asset manager with approximately $285 billion of assets under management. For more information, go to www.brookfield.com
For more information, please visit our website at www.brookfieldinfrastructure.com or contact:
Vice President, Communications
Tel: (416) 369-8236
Email: email@example.com Investors:
Senior Vice President, Corporate Development
Tel: (416) 956-5196
Photo courtesy of zhengzaishuru/iStock/Getty Images