Cobra IS, a subsidiary of VINCI, has announced the sale of its 50 percent stake in Brazilian company Mantiqueira Transmissora, which holds the public-private partnership (P3) for a high-voltage line, to Brookfield.
The sale amounts to approximately €130 million ($148 million) and increases Brookfield’s ownership in the company to 100 percent.
The 1,200-kilometer (746-mile) line, also dubbed Mantiqueira Transmissora, has 18 substations and crosses 50 municipalities in the state of Minas Gerais. It was awarded to Cobra IS following a public auction in 2016 and was commissioned in 2022.
According to the agreements, the operation and the maintenance of the line will continue to be carried out by Cobra IS.
Since 2023, Cobra IS has sold 50 percent of the Sertaneja PPP and 50 percent of the Chimarrao PPP — also located in Brazil — to Brookfield. The total amount of these three disposals (Mantiqueira, Sertaneja and Chimarrao) amounts to approximately R$1.
