Brookfield Unloads Brazil Transmission

Brookfield Infrastructure Partners (BIP) has exercised an option to sell its minority stakes in 5 Brazil transmission companies to utility Cemig and transmission holdco Alupar for expected proceeds of BRL480m. Cemig will get 95% of the transmission holdco that consists of a 25.00% stake in Empresa Amazonense de Transmissão de Energia, 25.00% of Empresa Paraense de Transmissão de Energia, 18.35% of Empresa Norte de Transmissão de Energia, 18.35% of Empresa Regional de Transmissão de Energia and 7.49% of Empresa Catarinense de Transmissão de Energia. Alupar will buy the other 5% of the block of Brookfield’s minority stakes. The transaction is still subject to regulatory approval. BIP is part of Brookfield Asset Management, which has $8bn invested in LatAm, out of more than $95bn total assets.