The consortium of Engie (40%), Crédit Agricole Assurance (35%) and Mirova-Natixis (25%) has just bought six dams with a cumulative capacity of 1.7GW from EDP for an EV of €2.2bn. This operation allows Engie to accelerate in its race to catch up on renewables and allows EDP to reduce its leverage. The transaction is expected to be closed in the second half of 2020, depending on the usual regulatory approvals.
20 Dec 2019
Massive transaction to catch up
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Massive transaction to catch up
ENGIE SA. (ENGI:WBO) | 0 0 1.4% | Mkt Cap: 30,916m
- Published:
20 Dec 2019 -
Author:
Auguste DERYCKX LIENART -
Pages:
3
The consortium of Engie (40%), Crédit Agricole Assurance (35%) and Mirova-Natixis (25%) has just bought six dams with a cumulative capacity of 1.7GW from EDP for an EV of €2.2bn. This operation allows Engie to accelerate in its race to catch up on renewables and allows EDP to reduce its leverage. The transaction is expected to be closed in the second half of 2020, depending on the usual regulatory approvals.