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06.08.2018 12:07
China Southern Power Grid buys share of European utility
AUTHOR: publics.bg


  • © Chinese Southern Power Grid

The state-owned China Southern Power Grid has acquired a 25.48% interest in the Luxembourg utility company Encevo S.A., Asia Times reports. The move comes after the Chinese company acquired 27.8% stake in Chile’s largest transmission operator in March.

The deal is between the private equity firm Ardian, which agreed to sell its 25.48% stake in Encevo to the Chinese company.

Encevo currently operates more than 10,150 km of transmission lines and more than 3,700 km of gas pipelines in Europe. Moreover, it operates in several energy sectors through two subsidiaries, Creos and Enovos Luxembourg. Creos focuses on operating the grid and natural gas networks. Enovos Luxembourg is responsible for selling energy to customers in Luxembourg and Germany.

The transaction price was not reported, however the deal is valued at about 400 million euros.

For Chinese grid companies, companies like Encevo are very attractive due to the belief that they can generate stable returns, because most of their income and profit are regulated and guaranteed by local governments.
 


TAGS: Encevo | Luxembourg | deal | sale | China | Chinese Southern Power Grid | investment 


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