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State Grid pays US$3 billion for Spanish power assets in Chile

shutterstock.com/Wang An Qi

Three Paul, Weiss, Rifkind, Wharton & Garrison LLP offices and Chile’s Claro & Cía have helped Chinese power company State Grid acquire Spanish counterpart Naturgy’s majority stake in Chilean transmission group Compañía General de Electricidad (CGE) for 2.6 billion euros (US$3 billion).