China State Grid 86.4 billion proposed acquisition of the entire equity interest in Brazil's third-largest power companies.

In determining the acquisition of Brazilian power companies CPFL Energia (hereinafter referred to as CPFL) 23.6% stake in more than a month after the world's largest power grid companies - State Grid Corporation of China (hereinafter referred to the national grid under) would decide on CPFL shot again.

August 10, the National Grid is planning to acquire the entire stake in Brazilian power company CPFL Energia and a listed subsidiary, involving an amount of $ 13 billion. If the transaction is successful, it is expected to become China's biggest investment in Brazil.

Previously, the National Grid and CPFL has reached an agreement to invest 5.85 billion reais (US $ 1.87 billion) to acquire 23.6% stake in CPFL. July 2, CPFL publish an announcement, confirmed the news.

CPFL is Brazil's third-largest power company, at the end of 2015, with an installed capacity of 3100MW, while the share accounted for 13% of the distribution business in Brazil.

State Grid initially planned acquisition of its 23.6% stake, the former Sao Paulo Industry Group (Camargo Correa S.A.) hold. Sao Paulo Industry Group is one of Brazil's largest private company, involving business, including energy, transportation, engineering and consulting, due to being implicated in corruption case Petrobras, currently in financial trouble and had to start selling assets.

State Grid deep in the Brazilian market for many years, in 2010, also specifically incorporated holding company State Grid Brazil in Rio de Janeiro, under the State Grid International Development Limited (hereinafter referred to State Grid International, Inc.). But the project after it acquired in Brazil, mostly for the transmission line project. If after the successful acquisition of CPFL, it means that the national grid also has power generation, power distribution and power grid assets in Brazil.