Interest grows for Abengoa’s transmission assets in Brazil

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Interest grows for Abengoa’s transmission assets in Brazil

Several teams are interested in the sale of Abengoa's transmission assets in Brazil. According to Eduardo Braga, Brazil's Energy Minister, the country's government was in talks with two foreign groups regarding the transaction. China's State Grid is interested in the deal but the firm has not submitted an official proposal.

Additionally, Transmissora Alianca de Energia Eletrica SA, a state-owned operator of power lines in Brazil, is also interested in the sale.

Abengoa has 10,000 kilometers of lines in operation and under construction in Brazil. The firm is Brazil’s biggest non-state owned transmission line operator. 

The Spanish firm has recently received approval to seek bankruptcy protection. It has hired G5 Evercore to lead its financial restructuring. The company is trying to reach an agreement with creditors before March 28, which is the legal deadline to avoid becoming Brazil's biggest-ever bankruptcy. It has a total debt of R$3.3 billion (US$915 million).

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