Portugal to acquire 13.7% stake in REN from Pontegadea

The Portuguese state, through Parpública, has agreed to acquire a 13.7% stake in the national electricity and gas grid operator, REN. The shares, totaling approximately 91.7 million, will be purchased from Pontegadea Inversiones, the investment firm owned by Spanish billionaire Amancio Ortega.

While the exact financial terms of the transaction have not been disclosed, the stake is estimated to be worth approximately 324 million euros based on recent market closing prices. The deal marks the return of the Portuguese state to the ownership of the grid operator, following the sale of its remaining public shares in 2014.

Prime Minister Luís Montenegro stated that the acquisition is not a renationalization but a strategic move to safeguard national interests regarding electrical infrastructure. The transaction remains subject to approval by the Portuguese Court of Auditors.