Photo: VCG
Utility company China Yangtze Power International (Hongkong) has tied up a $3.59 billion deal with Sempra Energy for the U.S.-based company’s interests in Peru, according to a filing to the Shanghai Stock Exchange this week.
The deal will be paid in cash, the filing said. It is expected to be completed by the first quarter of next year, according to a separate statement from Sempra.
Sempra’s major holdings in Peru include Luz del Sur, the South American country’s largest utility company. The purchase will bolster China Yangtze Power’s global portfolio, which currently boasts businesses in Germany, Brazil, Malaysia, and other countries.
The deal is still awaiting approval from the Peruvian antitrust agency. If it goes through, it would be the largest overseas acquisition deal by a Chinese firm so far this year.
Contact reporter Mo Yelin (yelinmo@caixin.com)
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