EDP planning into Up stake at Brazil’s Celesc #Months_AgoDecember 4, 2019
With the deal, EDP owns 33.1% of Celesc’s common shares and 1.9% of its preferred stock.
EDP now aims to carry out a voluntary public tender to acquire up to 32% of Celesc’s preferred shares for up to 199mn reais.
With the operation, EDP would hold 33.6% of the total share capital, allowing the company to choose four of the 13 directors on Celesc’s board.
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