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2 clusters · 23 sources · 3 days · First seen · Last updated

Portuguese state acquisition of REN stake

Overview

The Portuguese state, acting through the state-owned vehicle Parpública, has agreed to acquire a 13.7% stake in REN, the operator of the national electricity and natural gas transmission networks. The approximately 91.7 million shares are being purchased from Pontegadea Inversiones, the investment firm owned by Amancio Ortega.

Prime Minister Luís Montenegro described the acquisition as a strategic move to safeguard national interests regarding electrical infrastructure rather than a renationalization. The government stated the goal is to allow state participation in strategic investment decisions and to ultimately lower energy prices. This transaction marks the return of state ownership in the grid operator following its complete privatization in 2014.

The deal has faced criticism from the Socialist Party (PS). Parliamentary leader Eurico Brilhante Dias questioned the undisclosed transaction value and the logic of the operation, suggesting the government might have paid a significant premium. The acquisition remains subject to approval by the Portuguese Court of Auditors.

Entities

Parpública · Pontegadea Inversiones · Amancio Ortega · Luís Montenegro · Socialist Party

Timeline

  1. 1 day ago

    [BUSINESS] 7 sources
    Portugal state acquires 13.7% stake in REN energy grid

    Portugal's state-owned Parpública will acquire a 13.7% stake in energy grid operator REN from Amancio Ortega's Pontegadea, marking the state's return to the company's capital.

  2. 4 days ago

    [BUSINESS] 17 sources
    Portugal to acquire 13.7% stake in REN from Pontegadea

    Portugal's state holding company, Parpública, will acquire a 13.7% stake in grid operator REN from Amancio Ortega's Pontegadea, marking the state's return to the company's capital.

Sources

africanewswire.net · cincodias.es · contilnetnoticias.com.br · dev.tnonline.com.br · eco.sapo.pt · emissoradasbeiras.pt · jornaldiadia.com.br · jornaleconomico.sapo.pt · laVanguardia.com · lity.co · metropoles.com · mobile.valor.com.br · newmoney.gr · odiarioonline.com.br · portugal.fr · revistaoe.com.br · rr.pt · sage.com · sapo.pt · seucreditodigital.com.br · sitebarra.com.br · tradeinvestsa.co.za · vandringen.se