Portugal Shortlists Four Foreign Companies For EDP Stake
10 November 2011 - 3:35AM
Dow Jones News
Portugal's government has shortlisted four foreign companies for
the sale of its 21% stake in Energias de Portugal SA (EDP.LB).
German utility E.ON AG (EOAN.XE), Brazil's Centrais Eletricas
Brasileiras SA (ELET6.BR) and Companhia Energetica de Minas Gerais
(CIG, CMIG4.BR), and China's Three Gorges Corp., operator of the
world's largest hydropower dam by power generation capacity, will
now begin official talks with the government, it said.
The stake is being sold as part of a bailout agreement between
Portugal and the European Union and the International Monetary
Fund. Under the aid, Portugal has committed to shrink the size of
the public sector and the government's control over the private
sector.
EDP's privatization, expected to be agreed on by the end of the
year, is seen as attractive because of the company's considerable
renewable energies assets in the U.S. and Brazil.
-By Patricia Kowsmann, Dow Jones Newswires. Tel
+351-916-466-297, patricia.kowsmann@dowjones.com
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