Conclusion of sale of 100% of EDP's Gas Distribution in Spain
EDP has completed today, under the same terms and conditions previously disclosed, the sale of 100% of the share capital of Naturgas Energía Distribución, S.A. |
Pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities code, EDP - Energias de Portugal, S.A. ("EDP") is providing the following information to the market:
Following the information communicated to the market on April 24th 2017, EDP has completed today, under the same terms and conditions previously disclosed, the sale of 100% of the share capital of Naturgas Energía Distribución, S.A., EDP's gas distribution subsidiary in Spain, to a Consortium comprising institutional investors advised by J.P. Morgan Asset Management, the Abu Dhabi Investment Council, Swiss Life Asset Managers and Covalis Capital. White Summit Capital and Covalis Capital coordinated the consortium and are providing ongoing services.
This transaction will result in a c.€2.3 billion reduction in EDP's net debt this year and in a total net capital gain of c.€0.7 billion (c.€0.5 billion in 2017 while the remaining amount during an expected period of 5 years).
EDP – Energias de Portugal, S.A.