State Concludes Purchase of 5.3% of REN to Fidelity for €138.8 Million
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9 Articles
The acquisition of the 13.7% of the REN to Pontegadea, completed in September, cost the State 389,8 million euros, at a price of 4,25 euros per share, so the total investment in the two operations amounts to about 528,6 million euros
Parpublica paid almost 139 million euros for the 5.3% share of the REN purchased from the insurance company. Reaching 19% of the capital of the energy network manager cost the state 529 million euros.
State paid a lower premium in this acquisition compared to the first instalment of almost 14%.
According to REN's largest shareholder, it became the state, with 19%.
The State has concluded the purchase of a 5.3% stake in REN to Fidelity, for 138,791 million euros, raising its position in the company to 19%.
In order to finance the operation, the State transferred EUR 136,036 million to Parpublica, to which the amount not used in the first phase of the acquisition of REN capital is added.
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