SGCC complete the acquisition of Greek power grid operators ADMIE
June 21, China's national grid said it had completed the acquisition of Greek power grid operators ADMIE 24% stake.
The € 320 million deal is another important investment after the acquisition of shares in Portugal and the Italian grid company.
ADMIE is owned by the Greek public utility company, and the public utility company owns, operates and maintains the Greek domestic transmission network. Greece's power grid and many European countries, the integration of power grid, forming an important transmission corridor in southern Europe.
In October 2016, China's national grid defeated bidder from Italy and France. Once the completion of the transfer of shares, the State Grid will send its own management team stationed in ADMIE.
The two companies will also strengthen the grid construction, financial investment, power grid operations, research and development and personnel training and other cooperation.
China's national grid has shares in the backbone grid in seven countries and regions, including Italy, Portugal and Australia. Its management of assets worth over $ 56.8 billion, and all overseas projects are profitable.