The Red Eléctrica Group, through Red Eléctrica Internacional, has increased its stake in the capital of the Peruvian company Red Eléctrica del Sur (Redesur), from 33.75% to 55% in a deal valued at USD 6.9 million.
Through a combined action between the Red Eléctrica Group and the Peruvian investment fund manager AC Capitales, the two companies acquired the shares which Cobra and Abengoa held in Redesur. The total capital of Redesur is now owned between the two companies; 55% Red Eléctrica Group and 45% AC Capitales.
This transaction consolidates the Red Eléctrica Group in Peru, where the company also holds 55% of Transmisora Eléctrica del Sur (TESUR) and 100% of Red Eléctrica Andina (REA), and thus allows the creation of a business group with the consequent operational synergies.
Redesur is a company which, since its creation in 1999, operates under concession the electricity system of southern Peru (mainly in the regions of Arequipa Moquegua, Tacna and Puno), where it owns 427 kilometres of electricity line.