The Portuguese State buys around 13.7% of REN from Pontegadea Inversiones
The Portuguese State is going to return to the capital of the Portuguese Redes Energéticas Nacionais (REN) after agreeing to buy around 13.7% of the shareholding from Pontegadea Inversiones S.L., the investment vehicle of Spanish businessman Amancio Ortega.
The Portuguese state is set to regain a stake in Redes Energéticas Nacionais (REN) after agreeing to buy around 13.7% of the company's shares from Pontegadea Inversiones S.L., an investment vehicle of Spanish businessman Amancio Ortega. The acquisition, which still requires approval from the Tribunal de Cuentas, will see the state return to REN 12 years after selling its stake.
The purchase was announced through a statement to the Portuguese Comissão do Mercado de Valores Mobiliários (CMVM). Portuguese Prime Minister Luís Montenegro stated that the move is not aimed at renationalizing the company, but rather to protect Portugal's strategic interests in the country's electrical infrastructure and participate in investment decisions.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
