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EDP makes plans to leave Brazilian stock exchange

EDP makes plans to leave Brazilian stock exchange

March 3, 2023 | Thierry Ogier
Portuguese power company could spend $1.1 bln to buy out minority shareholders in its Brazilian subsidiary

Corporate & Sovereign Strategy Equity Brazil Portugal Capital Markets Electricity Energy Renewable

Portugues electric utility company Energias de Portugal (EDP) said Thursday that it plans to buy out minority shareholders in EDP Brasil and delist its Brazilian subsidiary from the B3 stock exchange in São Paulo. EDP could spend BRL5.77 billion ($1.11 billion) to acquire 240 million shares in EDP Brasil after offering to pay BRL24.00 per share, a 22.3% premium on the closing price on Wednesday, according to a securities filing. Consulting firm EY had set the price range between BRL20.20 and BRL

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