edp announcement
EDPR concludes the sale of minority stakes in Poland and Italy
Thursday,
27
October
2016
Market Notifications
Investors
Following the information released to the market on December 28th 2015 and the obtainment of the relevant regulatory approvals, EDP Renováveis, S.A. ("EDPR") announces the completion of the sale of 49% equity shareholding and shareholder loans in a portfolio of wind assets with 548 MW of capacity in Poland and Italy.
Madrid, October 27th 2016: Following the information released to the market on December 28th 2015 and the obtainment of the relevant regulatory approvals, EDP Renováveis, S.A. ("EDPR") announces the completion of the sale 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 ("CTG HK"), 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.
The agreement concluded today was made in the context of the €2bn strategic partnership established in Dec-11 between EDPR's principal shareholder, EDP – Energias de Portugal, S.A. ("EDP"), and CTG.