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Chinese State Grid makes highest bid of 320 mln for 24 pct stake in ADMIE
The Public Power Corporation (PPC) said on Wednesday evening that the China’s State Grid Corporation submitted the highest binding offer of 320 million euros for the acquisition of a 24 percent stake in the Independent Power Transmission Operator (ADMIE).
The Chinese State Grid’s bid implies a value of 1.33 billion euros for the whole company, which is close to ADMIE’s 2015 Regulated Asset Value (RAV) of 1.37 billion.
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