April 5, 2016 / 7:17 PM / 2 years ago

China State Grid officials visit Abengoa energy assets for sale-sources

SAO PAULO, April 5 (Reuters) - Officials from China State Grid visited energy transmission projects in Brazil under construction by Abengoa to evaluate the merits of a takeover of the assets that had stalled last year when the Spanish firm ran into financial problems, two sources confirmed on Tuesday.

One of the sources, a federal official close to the negotiations, said the sale of all of Abengoa’s energy projects in the country to State Grid was a scenario preferred by the government, as the Chinese firm was sufficiently capitalized to assure the completion of the projects. (Reporting by Luciano Costa and Leonardo Goy in Brasilia; writing by Reese Ewing, editing by G Crosse)

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