EDP sells its stake in DECA II
EDP – Energias de Portugal, S.A. ("EDP") signed today with Empresas Públicas de Medellín, a Colombian public utility, a Stock Purchase Agreement for the sale of its 21% stake in the share capital of Distribución Eléctrica CentroAmérica Dos ("DECA II"), along with the remaining shareholders of the company, Iberdrola and TECO.
EDP – Energias de Portugal, S.A. ("EDP") signed today with Empresas Públicas de Medellín, a Colombian public utility, a Stock Purchase Agreement for the sale of its 21% stake in the share capital of Distribución Eléctrica CentroAmérica Dos ("DECA II"), along with the remaining shareholders of the company, Iberdrola and TECO.
DECA II is a Guatemalan holding company which operates, through its subsidiary companies, on the distribution, transmission and commercialization of electricity in that country. The price paid for 21% of the equity of DECA II was $127 million.
With this transaction, EDP recognizes an after tax consolidated capital gain of €50 million.
The sale of these assets is in line with EDP's strategy of divesting non-core assets, such as minority stakes with no synergies with other assets in EDP and where EDP cannot have a relevant role in the management of the company.
EDP – Energias de Portugal, S.A.
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