CTG substitutes members of the general supervisory board

  • ECO News
  • 11 December 2018

The Chinese electric company appointed new representatives for their general supervisory board.

EDP informed the Portuguese Markets Commission (CMVM) that three representants of the General Council and Supervisory Board of China Three Gorges (CTG) Corporation resigned this Monday. Vice President, Yang Ya, resigned and abandoned his position at CTG Corporation.

Dingming Zhang, resigned from the position at CTG International Corporation and assumed the vice-presidency of CTG Corporation. Shengliang Wu, who had been the representant of CTG Europe S.A., resigned from there to become the representant of CTG International Corporation.

The electrical company informed the markets that there is yet another change in the General Supervisory Board, introducing Ignacio Herrero Ruiz as the newly appointed representative for China Three Gorges Europe, S.A.

China Three Gorges owns 23.27% of EDPs voting rights, but the Chinese State also has a high stake in EDP through another company, reaching a total of 28.25%.

In 2018 CTG did a takeover bid on EDP and its subsidiary, EDP Renewables. The PTO aims at getting least 50% of EDP shares, plus one, offering €3.26 per share.