Brazilian electricity transmission platform Skyline, a portfolio company of the Actis Long Life Infrastructure Fund 2 (ALLIF2), has acquired transmission lines in a $524m (€459m) deal.
Skyline has acquired a 435km, above-ground transmission line in the southern state of Santa Catarina from electric utility company EDP, and two assets from Vinci Partners, comprising a 112km above-ground transmission line in Rio Grande do Sul and a substation with its equipment in Minas Gerais.
Actis said the assets, with an enterprise value of $524m, have 30-year concessions with a minimum of 22 years remaining, and expands the number of assets held by Skyline from two to five.
Through the latest transaction, the $1.7bn ALLIF2 is now close to 50% deployed.
Adrian Mucalov, partner and head of long-life infrastructure at Actis, said: “It’s terrific to see the ALLIF2 momentum continue, with these investments coming shortly after completion of fundraising. It’s a nice illustration of how Actis is seizing the opportunities we see in the market.
“These acquisitions put us in a position to capitalise on Brazil’s power transmission sector, which we believe has a tremendous long-term track record of successful private sector investment and excellent contractual structures within Brazil’s rapidly growing electricity market.”
Davi Carvalho Mota, partner, long-life infrastructure at Actis, said: “We’re excited to be growing the Skyline platform, bringing greater scale and diversification.
“The assets being acquired are already fully operational so it’s a matter of plug-and-play for us in a sector we know very well, and in a high-quality regulatory environment, as we aim to deliver stable, competitive cash yields for investors.”
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