UPDATE 1-Spain's Isolux says in talks to sell Brazil assets to Brookfield

Tue Aug 23, 2016 12:38pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Adds details, context, Brookfield position)

SAO PAULO Aug 23 (Reuters) - Spain's energy company Grupo Isolux Corsan SA IPO-ISOL.MC said on Tuesday it is in talks to sell operating rights on Brazilian power transmission lines to Toronto-based Brookfield Asset Management Inc.

Isolux has licenses to operate about 4,700 kilometers (2,900 miles) of power transmission lines in Brazil.

The company said in a statement sent to Reuters that negotiations are advancing at good pace, but it declined to elaborate.

Isolux Corsan is facing financial difficulties in Spain and is currently working on a restructuring plan with creditors.

The Spanish company said to Brazilian electricity watchdog Aneel in July that it plans to leave the operation of power transmission lines in Brazil completely, according to an official document seen by Reuters.

Brookfield declined to comment. The Canadian asset manager last month said it had raised $14 billion in a global infrastructure fund that will invest in projects worldwide. (Reporting by Luciano Costa; writing by Marcelo Teixeira, editing by G Crosse)