The National Development and Reform Commission said on Monday that it has approved the acquisition deal of seven Brazilian high-voltage power transmission assets by State Grid Corp of China, hexun.com reported.
This is the Chinese power company's second investment in Brazil, and its fourth large-scale investment overseas.
State Grid?- China's largest electricity distributor and power grid operator?- announced the deal in May.
The company agreed to spend 1.86 billion Brazilian Real ($910 million) to buy the assets from Spanish construction company Actividades de Construccion y Servicios SA and its units.
The deal was approved by the NDRC in September, the statement said.
huangying@chinadaily.com.cn
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