EDP Closed the acquisition of Horizon Wind Energy
Tuesday 3, July 2007
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EDP - Energias de Portugal, S.A. ("EDP") has closed yesterday the acquisition of 100% interests in Horizon Wind Energy LLC ("Horizon"), following having been met the customary conditions precedent provided for in the agreement signed on March 27, 2007 between EDP and Goldman Sachs, namely the granting of the applicable federal and state level approvals by US regulatory authorities.
The final price of the transaction was set at an enterprise value of USD 2,740 million for Horizon, already including the capital expenditures supported by Goldman Sachs between the end of 2006 and today.
As previously disclosed, this acquisition was financed through a syndicated loan of USD 3,000 million contracted at EDP level, split by a USD 1,500 million tranche with a 1 year maturity (with an option to extend it for another year) and another USD 1,500 million tranche with a 7 years? maturity. This syndicated loan was lead by Barclays Capital and Citigroup.
With the closing of this deal, EDP reinforces its position as a global leader in renewable energies.
EDP - Energias de Portugal, S.A.
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