Spain’s energy company Grupo Isolux Corsán SA (IPO-ISOL.MC) said on Tuesday it is in talks to sell operating rights on Brazilian power transmission lines to Toronto-based Brookfield Asset Management Inc.
The Spanish company said in a statement sent to Reuters that negotiations are advancing at good pace but it declined to elaborate. Isolux has licenses to operate about 4,700 kilometres (2,900 miles) of power transmissions lines in Brazil.
Update: In May, Canada’s Public Sector Pension Investment Board (PSP Investments) announced the split of Isolux Infrastructure Netherlands BV and Isolux Corsán.
The deal enabled the launch of PSP-owned road investment platform ROADIS.
(Reporting by Luciano Costa; Writing by Marcelo Teixeira; Editing by Bill Trott)
(This story has been edited by Kirk Falconer, editor of PE Hub Canada)
Photo courtesy of Isolux Corsán