EDP obtains 51.2 million by selling all REN shares

  • ECO News
  • 29 June 2017

The electricity company headed by António Mexia sold their full equity on the company REN. At stake were over 18 million shares, sold for 51.2 million euros.

EDP sold its full position on REN’s capital for 51.2 million euros. The company headed by António Mexia stated in a press release sent to the CMVM (Portuguese Securities Market Commission) that they intended to alienate over 18 million shares, which represents 3.5% of the share capital of REN, the company headed by Rodrigo Costa.

“EDP – Energias de Portugal hereby gives notice of its intention to sell a total of 18,690,000 shares representing 3.50% of the share capital and voting rights of REN – Redes Energéticas Nacionais, directly held by EDP”, was stated in the press release.

“The total amount of the operation rose to 51.2 million euros — 2.74 euros per share EDP held in the company REN; after the transaction is concluded, EDP will no longer have an equity in REN”, is stated in a press release sent to the market.

It was JB Capital Markets who made the purchase. The Spanish investment house is now one of the main shareholders in the Portuguese utility. The liquidation of the offer will be made on July 30.