Chinese player bids EUR 9.07 billion on European utility

China Three Gorges, which has left a solid imprint on several offshore wind markets, will buy one of Europe's largest utilities. It is a "natural step," says the Chinese company.
Photo: EDP Renovaveis
Photo: EDP Renovaveis

State-owned Chinese company China Three Gorges Corporation (CTGC) will take over Portuguese utility EDP. CTGC has been a shareholder in the company since 2011 and currently owns 23 percent, while fellow Chinese player CNIC owns a further 5 percent stake. Now, with a EUR 9.07 billion bid, the Chinese company will buy the remaining share of the company at a premium of just under 5 percent, reports Portuguese newspaper Expresso.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
!
!
Must contain at least 6 characters
!
Must contain at least 2 characters
!
Must contain at least 2 characters

Get full access for you and your coworkers

Start a free company trial today

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

!
Newsletter terms

Front page now

Further reading