BEIJING, April 27 (Xinhua) -- China Yangtze Power Co., Ltd (CYPC, 600900.SH), a subsidiary of China Three Gorges Corporation announced that it has completed the acquisition of 83.6 percent stake of Luz Del Sur (LDS) at a basic transaction price of 3.59 billion U.S. dollars.
LDS is the largest power company in Peru. It engages in power distribution and sales in Lima, Peru. LDS holds 29 percent market share in Peru, making it the No.1 power distributor in the country.
This transaction represents the largest acquisition of overseas power distribution assets by a Chinese company.
(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)
A single purchase
