Portugal to sell off last stake in REN

Now Reading:

Portugal to sell off last stake in REN

Text size Aa Aa

Portugal’s government is selling its remaining stake in power grid operator REN.

It holds 11 percent of the company which will be sold to investors in a public offering of shares. Trading will start on June 17.

It is the latest mover by Portugal’s government to sell off state assets – one of the conditions of its bailout by the European Union and International Monetary Fund.

It has sold previous stakes in REN and Energias de Portugal.

In all Portugal has driven through privatisations worth more than eight billion euros.

The news boosted the value of REN’s shares.

with Reuters