Terna sells LatAm transmission portfolio to CDPQ
Terna S.p.A., Terna Plus S.r.l., and Terna Chile S.p.A. (collectively "Terna Group") have signed an agreement with Caisse de dépôt et placement du Québec (CDPQ) for the sale of 100% of Terna Group's portfolio of power transmission assets in Brazil, Peru and Uruguay, for an equity value of over EUR265 million (US$278.98 million).
Terna's recently constructed transmission network in Latin America extends approximately 1,200 kilometers in three countries, Brazil, Peru, and Uruguay. The transaction will allow Terna to record a capital gain of over EUR60 million (US$63.22 million).
The closing of the deal is planned to occur in multiple steps, for the most part in the second half of 2022, subject to the fulfillment of certain customary conditions. Terna Group was assisted by Santander Corporate & Investment Banking as financial advisor and by Curtis, Mallet-Prevost, Colt & Mosle as legal advisor. Pinheiro Neto Advogados served as legal advisor to CDPQ.
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