EDPR concludes the sale of minority stakes in Poland and Italy
EDP announces the completion of the sale by EDP Renováveis S.A. of 49% equity shareholding and shareholder loans in a portfolio of wind assets with 548 MW of capacity in Poland and Italy.
Pursuant to the terms and for the purposes of article 248 of the Portuguese Securities code, EDP - Energias de Portugal SA ("EDP") is providing the following information to the market:
Following the information released to the market on December 28th 2015 and the obtainment of the relevant regulatory approvals, EDP announces the completion of the sale by EDP Renováveis S.A., 77.5% controlled by EDP, of 49% equity shareholding and shareholder loans in a portfolio of wind assets with 548 MW of capacity in Poland and Italy, to ACE Poland S.A.R.L. and ACE Italy S.A.R.L., both of which 100% owned by ACE Investment Fund LP – an entity participated of China Three Gorges Hong Kong Ltd, a fully-owned subsidiary of China Three Gorges ("CTG"). Transaction final consideration reached €363 million, reflecting changes mainly arising from: i) adjustment of the transaction perimeter, ii) cash already distributed by those wind farms, iii) customary price adjustments and iv) ForEx.
This transaction is made in the context of the Strategic Partnership between EDP and CTG namely in relation to the €2 billion investment by CTG (including co-funding capex) in EDP Group's operating and ready-to-build renewable energy projects.
EDP – Energias de Portugal, S.A.
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