EDP – Energias de Portugal, whose biggest shareholder is China Three Gorges, moved ahead with its asset rotation strategy in Brazil by selling a 743 Kilometers power transmission line.
“This operation is part of the asset rotation strategy in the transmission business in Brazil, defined in the Business Plan 2023–2026″, the Lisbon-based company said in a statement.
Edify Empreendimentos e Participações S.A, a society managed by Actis, was the buyer of the power line sold by EDP – Energias de Portugal, S.A. EDP, through its fully owned subsidiary EDP – Energias do Brasil S.A.
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The transmission line sold is named EDP Transmissão SP–MG, with a total length of 743 Kilometers and R$ 288.5 million in Annual Allowed Revenue.
The total consideration for the transaction corresponds to an enterprise value of R$ 2,602 million (EUR 482 million, considering an exchange rate of 5.4 EUR/BRL), EDP said.
