(Adds details on the negotiation)
SAO PAULO Dec 2 Spain's infrastructure company
Ferrovial SA is in talks to acquire from its Spanish
rival Grupo Isolux Corsan SA IPO-ISOL.MC three power
transmission projects in Brazil, according to a Ferrovial letter
seen by Reuters on Friday.
Isolux is undergoing debt restructuring in Spain and has
stopped development of the power transmission lines, whose
licenses it obtained from the Brazilian government in licensing
tenders in 2014 and 2015.
Brazil's electricity watchdog, Aneel, is considering
canceling the licenses and promoting a new tender to find a
substitute for the battered Spanish company.
Ferrovial sent a letter to Aneel saying it was in talks with
Isolux. In the document, it asked the regulator to hold off on
the possible cancellation of the licenses. The company said it
was evaluating the three projects and that it intended to
present an offer to Isolux by Dec. 22 to take responsibility for
finishing the transmission lines.
There was no immediate answer from Aneel regarding
(Reporting by Luciano Costa; Writing by Marcelo Teixeira;
Editing by Lisa Shumaker and Jonathan Oatis)