Author: Ignacio Tornero (2026)
Abstract: This paper examines the acquisition of Chilquinta Distribución S.A. in Chile by State Grid International Development Limited in 2020, a Chinese state-owned enterprise (SOE)—subsidiary of State Grid Corporation of China (SGCC)—and supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. It analyzes the legal and regulatory implications of the transaction, focusing on how Chilean antitrust authorities interpreted SASAC’s role under local competition and securities laws. The study highlights broader challenges faced by Chinese SOEs abroad, including transparency, governance, and geopolitical tensions, and offers insights into China’s evolving Foreign-Related Rule of Law.