EDP raises EDPR holding to 82.6% for EUR 296m in takeover offer
05 AUG 2017
Energias de Portugal S.A. (EDP) {ELI:EDP] is providing the following information to the market:
In the context of the General and Voluntary Public Tender Offer for the acquisition of shares representative of the share capital of EDP Renováveis (EDPR) [ELI:EDPR] concluded on August 3rd, 2017, a total of 7,845 acceptance orders were registered representing a total of 43,907,516 shares.
Based on an offer price of EUR 6.75 per share, EDP's total investment in the public takeover offer amounts to EUR 296m. As a result of the offer, EDP will hold 720,191,372 shares in EDPR corresponding to 82.6% of its share capital and voting rights.
The offer falls within the portfolio reshuffling announced on 28 March, 2017 and is an additional step towards strengthening the cooperation and integration of operations in the activity of electricity generation through renewable energy sources as well as in the simplification of EDP's shareholder structure.
It is expected that the financial settlement will occur on 8 August 2017.