China in the Early Stages of a Cyclical Upturn

M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

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EDP - Energias de Portugal SA / Event-Driven

<p>State-owned power company China Three Gorges is likely to submit a higher offer for Portuguese utility Energias de Portugal, in which it is a major shareholder with a 23.3% stake. A spokesperson for EDP told CTFN that CTG filed the offer prospectus with Portuguese securities regulator CMVM on May 31, and that the regulator is currently reviewing the €3.26 per share offer, which is conditional upon regulatory clearance.</p>

State-owned power company China Three Gorges is likely to submit a higher offer for Portuguese utility Energias de Portugal, in which it is a major shareholder with a 23.3% stake. A spokesperson for EDP told CTFN that CTG filed the offer prospectus with Portuguese securities regulator CMVM on May 31, and that the regulator is currently reviewing the €3.26 per share offer, which is conditional upon regulatory clearance.

China Three Gorges Expected to Come Back with Higher Offer for EDP