Axpo becomes main shareholder of Portuguese energy distributor Goldenergy

  • ECO News
  • 10 October 2018

Axpo is now the controlling shareholder of the Portuguese energy distributor, Goldenergy, the third biggest in Portugal. The Swiss want to reinforce their presence in the Portuguese market.

Three years after first pitching in on Goldenergy shares, the Swiss public company Axpo has become the main shareholder of the company which was formerly owned by the Portuguese energy group Dourogas. Axpo was already the owner of 25% of Goldenergy’s shares since 2015, but on the 25th of September this year, the Swiss company signed a deal which gave them control over the remaining 75%, according to the information from the company itself, released by the news agency Europa Press. The amount of the transaction is still unknown.

The purchase of 100% of Goldenergy by Axpo is still on hold, as it awaits the approval of the Competition Authority (AdC). The intention of the Swiss company is to reinforce its presence in the Portuguese energy market, and it is in line with the strategy of diversification the company is structuring for the country’s market, now controlling the third largest energy distributor in Portugal.

In contrast, according to the news agency, Dourogas is also rethinking its strategies for their operations in the Portuguese energy market. The company is now “solidifying investment operations” already in traction, with emphasis to the redistribution networks in 18 city councils in the regions of Vila Real and Bragança. This projects, according to Europa Press, is financed directly by the European Investment Bank.