EDP Concludes The Acquisition of Viesgo
Lisbon, December 16th, 2020: Following the information communicated to the market on July 15th 2020, EDP - Energias de Portugal, S.A. (“EDP”) has completed today the acquisition of Viesgo, for an enterprise value (100%) of €2.7 billion.
This transaction includes the establishment of a long-term partnership with Macquarie Super Core Infrastructure Fund SD Holdings S.À.R.L. (“MSCIF”) for electricity distribution business in Spain, which will be 75.1% owned by EDP and 24.9% by MSCIF. This partnership will own three electricity distribution companies: E-Redes (previously 100% owned by EDP), Viesgo Distribución and Begasa, (currently 100% owned by Viesgo). This enlarged electricity distribution operation in Spain represented a total EBITDA of €320 million in 2019.
In addition, as part of the transaction, EDP Renováveis, S.A. (“EDPR”), 82.6%-owned by EDP, will acquire 100% of the renewables business of Viesgo, comprising 0.5 GW in Iberia, and EDP will own 100% of Viesgo’s two thermal power plants currently under decommissioning stage in the south of Spain, which carry potential interconnection rights to develop renewable projects.
The deal completed today reinforces the weight of regulated and long-term contracted activities with a low risk profile in EDP’s business portfolio and supports EDP’s strategy of focused growth in renewables and electricity networks, fully aligned with the energy transition.
This information is disclosed 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.