Brookfield Sells Its Transelec's Stake

Linklaters in Hong Kong and New York, Guerrero Olivos in Santiago and Rodrigo, Elías & Medrano Abogados in Lima have helped China Southern Power Grid acquire Canadian private equity investor Brookfield's 27.8% interest in Chilean transmission company Transelec for US$1.3 billion.

Brookfield hired Goodmans LLP in Toronto, Herbert Smith Freehills in Madrid and Carey in Santiago. The deal, which was made through Transelec's parent company ETC Transmission Holding, was signed on 26 December and is expected to close in the first half of 2018.

The deal comes 12 years after Brookfield acquired Transelec in 2006 for US$1.69 billion as part of a consortium.

Transelec is Chile's largest power transmission company serving 98% of the population.