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
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.