GreenergyDaily

Dec. 12, 2025

China Southern Power Grid Co.'s attempt to acquire control of Chilean power transmission company Transelec SA has hit a snag due to differences over valuation, Bloomberg reported, citing people familiar with the matter.

The companies are trying to overcome the pricing hurdles and are continuing negotiations, but the timing of a possible agreement is unclear, the people said.

A transaction, which has been discussed for about two years, could be valued at more than $4 billion, people familiar with the matter have said. The companies had hoped to strike a deal as early as September, when talks were already at an advanced stage, some of the people said. The delays partly stem from Transelec detecting additional charges it made to customers. The company has agreed to return some of that amount.

China Southern Power, which holds nearly 28% of Transelec already, has teamed up with Latin America-focused alternative asset manager Patria Investments Ltd. for the potential acquisition, some of the people said.

Canada Pension Plan Investment Board, British Columbia Investment Management Corp. and Public Sector Pension Investment Board hold the remaining roughly 72% of Transelec.

Transelec is Chile's biggest power transmission company, operating high-voltage lines and linking generation hubs with distributors to help integrate growing renewable capacity into the grid. It has more than 10,000 kilometers (6,200 miles) of power lines across the country.