Offer China Three Gorges on the electrician, Portuguese EDP


© Reuters. OFFER CHINA THREE GORGES ON The ELECTRICIAN, PORTUGUESE EDP

LISBON (Reuters) – The group public chinese China Three Gorges was submitted Friday in a bid to take control of the electrical company of the Portuguese EDP, the largest company in Portugal, it is already the biggest shareholder with 23% of the share capital.

The chinese group proposes to 3.26 euros per share, representing a premium of slightly less than 5% compared to the closing price of the EDP on Friday, at 3.11 euros.

China Three Gorges says want to go up to at least 50% plus one share in the share capital of EDP.

It has also launched an offer on EDPR, a subsidiary of renewable energy to EDP, for the price of 7.33 euros per share against a closing price on Friday declined by 7.84 euros.

EDP was Friday at the closing a market capitalization of close to 11.4 billion euros. It has nearly 10 million customers on the electricity market, and 1.6 million on natural gas and has a network of more than 330,000 km of power lines.

The Portuguese government has no objection to this offer of China Three Gorges, had previously stated to the press, the Prime minister, Antonio Costa, when the first rumors about the plans of the chinese group came to the surface.

(Andrei Khalip; Bertrand Boucey for the French service)

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