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EDP sells its stakes in Ampla Investimentos and Ampla Energia

EDP sells its stakes in Ampla Investimentos and Ampla Energia

Friday 5, August 2011
2 min read
This article has more than 6 months
EDP – Energias de Portugal, S.A. signed with Endesa Latinoamerica, S.A., a Share Purchase Agreement for the sale of its (i) 7.7% stake in the share capital of Ampla Investimentos e Serviços, S.A. and (ii) its 7.7% stake in the share capital of Ampla Energia e Serviços, S.A..

EDP – Energias de Portugal, S.A. ("EDP") signed with Endesa Latinoamerica, S.A., a Share Purchase Agreement for the sale of its (i) 7.7% stake in the share capital of Ampla Investimentos e Serviços, S.A. ("Ampla Investimentos") and (ii) its 7.7% stake in the share capital of Ampla Energia e Serviços, S.A. ("Ampla Energia").

Ampla Investimentos and Ampla Energia, both listed entities on the Brazilian Stock Exchange, hold directly and indirectly stakes in electricity distribution companies operating in Brazil.

The aggregate price agreed for the equity stakes of Ampla Investimentos and Ampla Energia is €85 million.

The sale of these stakes, which is subject to the customary regulatory approvals, is in line with EDP's strategy of divesting noncore assets and, upon completion, will allow EDP to reach approximately €450 million or 90% of its €500 million target of assets disposals over 2011.

EDP – Energias de Portugal, S.A.

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