LISBON, Jul 15 (.) – Portugal’s largest energy company EDP has agreed to buy Spain’s Viesgo from Macquarie in an operation with a company value – that is, debt included – of 2.7 billion euros.
In a statement, EDP said it would carry out a capital increase of some 1,000 million euros to finance the transaction, which will allow the Portuguese company to double its size in electricity distribution in Spain.
After the operation, EDP’s electricity distribution business in Spain, ERedes, and Viesgo’s distribution subsidiaries —Viesgo Distribución and Begasa—, will be 75.1% owned by EDP and funds managed by Macquarie Infrastructure and Real Assets (MIRA ) to 24.9%.
In addition, EDP will buy – through EDP Renováveis, which controls 82.6% – 100% of Viesgo’s renewable business, which includes 24 wind farms and two hydroelectric plants in Spain and Portugal that represent more than 500 MW of capacity.
EDP added that it plans to close the operation at the end of the year.
EDP press releases on the transaction:
(Information from Catarina Demony and Sergio Goncalves, written in Spanish by Tomás Cobos)