Engie: may be interested in taking over EDPR
(CercleFinance.com) - According to BFM Business, Engie has "for several months" had its eyes on the renewable activities of the Portuguese energy company EDP's “EDP Renovaveis (EDPR),” and appears to be in talks with the Chinese company Three Gorges.
EDP is subject to a takeover bid of nine billion euros from the Chinese group Three Gorges, although the transaction could well be blocked in the United States by the authority regulating foreign investments, a market to which the "Portuguese EDF" is exposed, representing "half (of) its renewable energies activities".
According to BFM Business, a few weeks' ago, Engie and Three Gorges started talks with EDP's subsidiary EDP Renovaveis (EDPR), with BFM believing that the talks are expected to last until the end of the summer.
Amongst the scenarios envisaged: Engie would take control of EDPR, which has a market capitalisation of eight billion euros on the Lisbon Stock Exchange, with Three Gorges as a minority shareholder. Or indeed, Engie would be satisfied with EDPR's US division.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
EDP is subject to a takeover bid of nine billion euros from the Chinese group Three Gorges, although the transaction could well be blocked in the United States by the authority regulating foreign investments, a market to which the "Portuguese EDF" is exposed, representing "half (of) its renewable energies activities".
According to BFM Business, a few weeks' ago, Engie and Three Gorges started talks with EDP's subsidiary EDP Renovaveis (EDPR), with BFM believing that the talks are expected to last until the end of the summer.
Amongst the scenarios envisaged: Engie would take control of EDPR, which has a market capitalisation of eight billion euros on the Lisbon Stock Exchange, with Three Gorges as a minority shareholder. Or indeed, Engie would be satisfied with EDPR's US division.
Copyright (c) 2018 CercleFinance.com. All rights reserved.