Vinci Partners Investments is selling its majority stake in Linhas de Energia do Sert茫o Transmissora (Lest), a power transmission concessionaire in Brazil.
Vinci Partners said a fund managed by its infrastructure arm has agreed to sell its 50.1% stake in Lest for an undisclosed sum.
Lest is a special purpose company that explores the concession of public electricity transmission services for the implementation, operation, and maintenance of two transmission line projects in the Northeast region of Brazil.
Vinci Infra Transmiss茫o Fundo de Investimento em Participa莽玫es em Infraestrutura (FIP Infra Transmiss茫o) acquired control of Lest through a public concession auction in 2017.
FIP Infra Transmiss茫o had partially realised its investment in Lest in 2019, the manager said adding that it expects to fully realise its investment with this transaction.
Jos茅 Guilherme Souza, partner and head of infrastructure for Vinci Partners, said: 鈥淥ur divestment in Lest builds upon the infrastructure team鈥檚 extensive track record in power transmission projects, by correctly identifying risks and opportunities in the initial phase of a public auction, together with an effective project management from start to end.鈥�
FIP Infra Transmiss茫o has one remaining investment in its portfolio, 脕gua Vermelha Transmissora, a thirty-year concession for the implementation and operation of a static compensator project in the state of Minas Gerais.
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