Amancio Ortega to receive €55 million premium on REN stake sale

Amancio Ortega is set to receive a €55 million premium for selling his 13.7% stake in the Portuguese energy grid operator Redes Energéticas Nacionais (REN). The state-owned company Parpública will pay €380 million for the 91.7 million shares held by Pontegadea, representing a nearly 17% premium over the market value at the time the deal was announced. This transaction, which awaits approval from the Portuguese Court of Auditors, marks a significant return for Ortega, who invested approximately €228 million in REN since 2021. The sale is expected to yield a total profit of roughly €214 million when accounting for capital gains and dividends.

Separately, the Lisbon Stock Exchange has experienced volatility over recent sessions. The index has fluctuated between slight gains and losses, with various companies such as Navigator, EDP Renováveis, and Galp Energia seeing varying performance. Meanwhile, European markets have shown mixed results, with major indices like the DAX and CAC 40 experiencing shifts in value. Oil prices have trended upward amid geopolitical uncertainties in the Middle East, specifically regarding navigation in the Strait of Hormuz.