GDF Nets $560M From Mitsui For Brazil Hydro Plant Stake

Law360, New York (May 13, 2013, 3:26 PM EDT) -- French power company GDF Suez SA has sold a 20 percent stake in a massive hydro power plant development in Brazil for roughly 1.14 billion Brazilian Real ($560 million) to Japan's Mitsui & Co. Ltd., GDF said Monday.

GDF will retain a 40 percent controlling share of the Jirau hydro plant, a 3,750-megawatt development on the Madeira River in northern Brazil. Mitsui will assume responsibility for a portion of the funding and construction costs at the Jirau facility, which will be the fourth-largest hydropower plant in Brazil...
To view the full article, register now.