China Buys Spanish Assets in Brazil

WSJ – A debt-laden Spanish construction firm became the latest European company to unload assets onto eager Chinese buyers, as Europe’s debt woes force firms to look to China for cash.

State Grid Corp., China’s government controlled power-grid operator, said Tuesday it would buy high-voltage electricity transmission assets in Brazil from Spain’s Actividades de Construccion y Servicios SA for 1.86 billion reais ($938.2 million), including debt. The deal is State Grid’s second investment in Brazil and its fourth major investment overseas, and is the most recent in a string of deals in which a European company has looked to exit an investment.

China has already bought resource related assets in Africa and Canada. China has also been buying cheap assets in Greece

China is also buying all assets in North and South America

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China Buys Spanish Assets in Brazil

WSJ – A debt-laden Spanish construction firm became the latest European company to unload assets onto eager Chinese buyers, as Europe’s debt woes force firms to look to China for cash.

State Grid Corp., China’s government controlled power-grid operator, said Tuesday it would buy high-voltage electricity transmission assets in Brazil from Spain’s Actividades de Construccion y Servicios SA for 1.86 billion reais ($938.2 million), including debt. The deal is State Grid’s second investment in Brazil and its fourth major investment overseas, and is the most recent in a string of deals in which a European company has looked to exit an investment.

China has already bought resource related assets in Africa and Canada. China has also been buying cheap assets in Greece

China is also buying all assets in North and South America

If you liked this article, please give it a quick review on ycombinator or StumbleUpon. Thanks

Subscribe on Google News