ContourGlobal, a UK-based independent power producer, through its indirect majority-owned subsidiary Kani Lux Holdings, has agreed to sell its Brazilian hydro-power business to asset manager Patria Investments, for BRL 1.73 billion (US$ 313 million), including the assumption of net debt and other customary adjustments. The transaction, which is expected to be completed in the second quarter of this year, will involve the sale of nine run-of-river plants, with a combined gross capacity of 168 MW, according to a London Stock Market filing issued on 20 January. The plants in the portfolio were developed, constructed or acquired by ContourGlobal, and all assets operate under long-term concession contracts. As of 30 September 2021, the Brazil hydro business had a gross asset value of US$ 105.4 million.
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