Patria to Sell Argo Energia for USD835 Million
Posted On: 23 Nov 2019 | Source(s): Diário Comércio Indústria e Serviços
Brazil-focused alternative asset manager Patria Investments has agreed to sell Argo Energia, a Brazil-based power transmission company, to Colombia-based Energía Bogotá and Spain-based Rede Eléctrica for BRL3.5 billion (approximately USD835 million). The company operates 1,400 kilometers of transmission lines, linking energy generation assets, distributors, and consumers. Patria created the business in 2016. The transaction is subject to regulatory approval.