State Grid pays premium for Chilean assets

State Grid pays premium for Chilean assets

M&A Equity Corporate & Sovereign Strategy Energy Electricity Renewable Regulation Chile Peru China Brazil US

China's State Grid has agreed to pay $2.23bn for the Chilean electricity assets of US-based Sempra Energy, the latest in what sources say is a growing wave of high-priced acquisitions by Chinese companies looking for growth in South America. In the deal, the Chinese state-owned electric utility company will get Chilquinta Energía, the third-largest electricity distributor in Chile, as well as power construction and transmission assets. Sempra is selling as part of a pullout from South America to

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