Brookfield closes sale of Transelect stake to China Southern Power Grid for US $1.3B

Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) has completed the sale of approximate 27.8% interest in ETC Transmission Holdings, S.L., the parent company of Transelec S.A., to China Southern Power Grid International (HK) Co., Ltd. for US $1.3 billion.

Transelec is the largest pure-play power transmission company in Chile, with over 10,000 kilometers of electricity lines serving approximately 98% of the Chilean population.

Santander GCB and Scotiabank acted as financial advisors to Brookfield Infrastructure and Goodmans LLP acted as legal advisor.

In June 2006, Brookfield Asset Management Inc., Canada Pension Plan Investment Board (CPPIB), British Columbia Investment Management Corporation (bcIMC) and Public Sector Pension Investment Board (PSP Investments), acquired HQI Transelec Chile S.A. from Hydro-Quebec International Inc. for over US $1.55 billion.

As one of two state-owned power grid companies in China, Guangzhou based China Southern Power Grid invests in, constructs and operates power networks in Guangdong, Guangxi, Yunnan, Guizhou and Hainan provinces, with a total service area of 1 million square kilometers and 230 million people.

photo credit: aitoff via pixabay

News Release

Brookfield Infrastructure Completes Sale of Chilean Transmission Business

BROOKFIELD, NEWS, March 15, 2018 — Brookfield Infrastructure (NYSE:BIP) (TSX:BIP.UN) today advised that it has completed the previously announced sale of its approximate 27.8% interest in ETC Transmission Holdings, S.L., the parent company of Transelec S.A. (“Transelec”), to China Southern Power Grid International (HK) Co., Ltd. for US$1.3 billion.

Santander GCB and Scotiabank acted as financial advisors to Brookfield Infrastructure and Goodmans LLP acted as legal advisor.

Brookfield Infrastructure Partners is a leading global infrastructure company that owns and operates high quality, long-life assets in the utilities, transport, energy and communications infrastructure sectors across North and South America, Asia Pacific and Europe. We are focused on assets that generate stable cash flows and require minimal maintenance capital expenditures. Brookfield Infrastructure Partners is listed on the New York and Toronto stock exchanges. Further information is available at www.brookfieldinfrastructure.com.

Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a leading global alternative asset manager with approximately $285 billion of assets under management. For more information, go to www.brookfield.com

For more information, please visit our website at www.brookfieldinfrastructure.com or contact:

Media:

Claire Holland
Vice President, Communications
Tel: (416) 369-8236
Email: claire.holland@brookfield.com

Investors:
Rene Lubianski
Senior Vice President, Corporate Development
Tel: (416) 956-5196
Email: rene.lubianski@brookfield.com

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.