China's State Grid buys majority stake of Brazil's CPFL for $4.5 bn
China economy
Beijing - Arab Today
China's State Grid has concluded a deal to buy a majority stake of Brazil's electricity giant CPFL for 14.19 billion reals ($4.5 billion), the company announced Tuesday.
The deal will advance the Chinese company's presence in the Brazilian market, where it operates 10,000 kilometres of power transmission lines, the official Xinhua news agency reported.
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