EDP acquires 25.3% stake in Portgas
EDP, through its subsidiary EDP Gas – SGPS, S.A., has agreed with GDF International and S.E.S. – Suez Energy Services, both subsidiaries of Engie ("Engie Subsidiaries") the acquisition of a 25.3% stake in Portgas – Sociedade de Produção e Distribuição de Gás, S.A. valued at EUR 42 million, as well as the reimbursement to Engie Subsidiaries of shareholder loans in the amount of EUR 13 million at December 2014.
Pursuant to the terms and for the purposes of article 248 of the Portuguese Securities code, EDP - Energias de Portugal, S.A. ("EDP") provides the following information to the market and general public:
Today EDP, through its subsidiary EDP Gas – SGPS, S.A., has agreed with GDF International and S.E.S. – Suez Energy Services, both subsidiaries of Engie ("Engie Subsidiaries") the acquisition of a 25.3% stake in Portgas – Sociedade de Produção e Distribuição de Gás, S.A. ("Portgas") valued at EUR 42 million, as well as the reimbursement to Engie Subsidiaries of shareholder loans in the amount of EUR 13 million at December 2014.
Portgas has the concession for the development of the natural gas distribution network in 29 Municipalities in Portugal, namely for the Districts of Porto, Braga and Viana do Castelo. In 2014, it distributed 6,853 GWh of natural gas to 314 thousand points of supply.
This transaction will increase EDP Gas – SGPS, S.A.'s stake in Portgas from 72.0% to 97.3%.
The execution of the transaction is subject to the customary regulatory approvals.
EDP – Energias de Portugal, S.A.
Download
