El Estado portugués compra cerca del 13,7% de REN a Pontegadea Inversiones

Portugal's Estado will return to owning about 13.7% of national power company Redes Energéticas Nacionais (REN) after agreeing to purchase roughly 13.7% of shares from Pontegadea Inversiones S.L., the investment vehicle of Spanish entrepreneur Amancio Ortega. The energy carrier announced in a filing to the Portuguese stock market regulator that Pontegadea Inversiones had entered into a contract with Parpública, the company managing the Portuguese state's shareholdings in companies, to transfer 91.723.676 shares, representing about 13.7% of REN's capital.

The Portuguese company did not disclose the value of the operation, noting that the purchase and sale are still subject to approval by the Court of Accounts. This move brings the Portuguese state back into REN after selling its stake 12 years ago. Prime Minister Luís Montenegro, speaking at a political rally in southern Portugal, defended the move, stating that it is not about renationalizing the company, but rather to be present, protect Portugal's strategic interest in its electricity infrastructure, participate in investment and strategic decisions, and benefit the country's productive capacity while lowering energy prices.