1. LINE

      Text:AAAPrint
      Economy

      State Grid to own 100% of CPFL

      1
      2017-02-18 11:32China Daily Editor: Wang Fan ECNS App Download
      A robot helps check power transmission facilities in Quanjiao county, Anhui province. (Photo/China Daily)

      A robot helps check power transmission facilities in Quanjiao county, Anhui province. (Photo/China Daily)

      Move expected to result in more business and higher exposure in South America

      The State Grid Corp of China - the world's biggest utility company by revenue - said it will launch a tender offer to buy the remaining shares it does not already own in CPFL Energia SA, the Brazilian power group said in a securities filing.

      The State Grid said on Thursday it would pay 25.51 reais ($8.35) per share for the balance in CPFL.

      The latest move comes after the Chinese company last month acquired a controlling 54.64 percent stake in CPFL Energia and its subsidiary, CPFL Energias Renovaveis SA, for 17.36 billion reais ($5.68 billion).

      According to the filing issued by CPFL, the largest power distributor in Brazil, the State Grid plans to delist CPFL from the New York and Sao Paulo stock exchanges.

      Bloomberg Intelligence senior analyst Joseph Jacobelli said with the purchase, the State Grid would enjoy better synergies overall with more business and exposure in Brazil.

      The State Grid did not reply to questions about the buyout, but said when taking the controlling stake, the deal would further extend its business to power transmission, distribution, new energy power generation and electricity sales.

      It said last month that the acquisition would help it to introduce its new energy power generation technology and management experience in the South American country.

      Now running most of the country's electricity distribution network, the State Grid has other projects in Brazil as well.

      It earlier landed ultra high-voltage electricity transmission projects in Brazil, planning to build transmission lines from the huge Belo Monte hydroelectric dam in the Amazon area to the populous center-south region.

      The first phase of the Belo Monte UHV DC Transmission Project is expected to start commercial operations by February 2018, Li Lequan, deputy director of State Grid International Development Co Ltd, SGCC's subsidiary for global operations, said earlier during a news conference.

      Brazil's power sector is undergoing a wave of consolidation as several companies struggle financially amid Brazil's economic recession since middle 2014.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: a毛片在线看片免费| 一区二区三区AV高清免费波多| 久久乐国产精品亚洲综合| 亚洲国产aⅴ综合网| 久久亚洲国产精品| 久久亚洲国产成人精品性色| 亚洲另类精品xxxx人妖| 在线亚洲午夜片AV大片| 精品一区二区三区免费观看| 午夜影院免费观看| 黑人粗长大战亚洲女2021国产精品成人免费视频 | 亚洲天堂中文字幕在线| 亚洲日韩在线视频| 国产美女视频免费观看的网站 | 噼里啪啦免费观看高清动漫4| 午夜老司机免费视频| 国产AV无码专区亚洲AV漫画 | 亚洲真人无码永久在线观看| 一级免费黄色大片| 青青青青青青久久久免费观看| 成人区精品一区二区不卡亚洲| 午夜视频免费成人| 一个人看的免费视频www在线高清动漫 | 一本到卡二卡三卡免费高| 亚洲热妇无码AV在线播放| 亚洲精品伦理熟女国产一区二区| 国产免费福利体检区久久| 亚洲乱码国产一区三区| 亚洲AV日韩AV无码污污网站| 国产一级高青免费| 亚洲国产香蕉人人爽成AV片久久| 亚洲一本一道一区二区三区| 成人伊人亚洲人综合网站222| 2020年亚洲天天爽天天噜| 最近在线2018视频免费观看| 久久影院亚洲一区| 99视频免费播放| 久久青青草原亚洲AV无码麻豆| 国产99久久久久久免费看| 亚洲国产成人精品久久久国产成人一区二区三区综 | 亚洲成a人片在线播放|