EDP Renováveis will be part of the Energias de Portugal group

6 July 2017


EDP Renováveis will be integrated into the EDP – Energias de Portugal group following the launch of a takeover bid for all the shares representing the company’s share capital, the registration of which has already been approved by the Portuguese Securities Market Commission (CMVM).

The market regulator said in a press release that the EDP group is offering 6.75 euros, per share for just over 196 million shares of EDP Renováveis (equivalent to 22.74%) of the share capital of EDP Renováveis in the market.

The price to be paid for the shares of EDP Renováveis, according to EDP, will be “available” to the shareholders of the renewables company that accept the terms of the bid that starts tomorrow.

The value of 6.75 euros per share gives EDP Renováveis a market capitalisation of 5.88 billion euros, indicating that the company has a total value of 11.25 billion euros and net financial debt of 2.39 billion euros, according to the document approved by CMVM.

The main shareholders of the EDP are the China Three Gorges group (21.35%), China Ningbo International Cooperation Co. (3.02%) and Capital Group Companies (14.09%). (macauhub)