Date: 05-30-12 09:10
The following is a preview of a May 29, 2012 Wall Street Journal article titled "China Buys Up Spain's Assets":
BY PABLO DOMINGUEZ AND PRUDENCE HO
A debt-laden Spanish construction firm became the latest European company to unload assets onto eager Chinese buyers, as Europe's debt woes force firms to look to China for cash.
State Grid Corp., China's government controlled power-grid operator, said Tuesday it would buy high-voltage electricity transmission assets in Brazil from Spain's Actividades de Construccion y Servicios SA for 1.86 billion reais ($938.2 million), including debt. The deal is State Grid's second investment in Brazil and its fourth major investment overseas, and is the most recent in a string of deals in which a European company has looked to exit an investment ...
The article may be found at the following link:
The article's been archived but you can guess what it's about. ;-)