State Grid Corporation of China and Grupo Energía Bogotá (GEB) have entered early-stage discussions to acquire a Brazilian power transmission asset from Brookfield Asset Management, according to a report by Bloomberg citing sources familiar with the matter.
The negotiations centre on the potential acquisition of the Mantiqueira transmission line, held through Brookfield’s local subsidiary, Quantum Participações. While talks are ongoing, sources cautioned that a transaction is not guaranteed.
State Grid is reportedly working with Banco Santander as financial advisor, while GEB has mandated Deutsche Bank to support its bid. Both Brookfield and Santander declined to comment, while State Grid and Deutsche Bank did not respond to requests for comment.
A spokesperson for GEB confirmed the company’s strategic interest in Brazil, stating it “remains committed to growing its presence in the transmission market in Brazil and continues to evaluate a range of alternatives to expand its footprint.”
Brookfield is said to be receiving additional sell-side advisory support from Banco Itaú BBA and Bradesco BBI as it explores divestment options for its transmission assets.
The Mantiqueira line is part of the portfolio managed by Quantum, an entity established in 2017 to oversee Brookfield’s Brasil Energia fund. The platform holds concessions covering approximately 2,851 kilometres of transmission lines across the country.
