|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.3500 - 3.3710|
|52 Week Range||2.9050 - 3.5590|
|Beta (3Y Monthly)||1.17|
|PE Ratio (TTM)||22.45|
|Earnings Date||Oct 30, 2019|
|Forward Dividend & Yield||0.19 (5.65%)|
|1y Target Est||3.35|
Moody's América Latina Ltda., ("Moody's") assigned a Ba2 global scale and Aa1.br national scale ratings to Babilonia Holding S.A.'s ("Babilonia", the "project" or the "issuer") BRL87 million senior secured debentures due in 2033, to be issued in the form of infrastructure debentures pursuant to law 12,431. This is the first time that Moody's assigns ratings to the project's securities. The ratings also consider the standard project finance features that offer protection to creditors, as well as Moody's perception of strong sponsor commitment to the project provided by EDP Renováveis Brasil S.A. (EDPR-Brasil, unrated), an indirect subsidiary of EDP -- Energias de Portugal, S.A. (Baa3, stable).
Moody's América Latina Ltda., ("Moody's") has today affirmed EDP -- Energias do Brasil S.A.'s (EDB) corporate family ratings at Ba2 on global scale rating and Aa2.br on the Brazilian national scale (NSR). At the same time, Moody's upgraded EDB's senior unsecured debentures to Ba2/Aa2.br from Ba3/A1.br.
LONDON/PARIS (Reuters) - French utility Engie and Portugal's EDP said on Tuesday they will invest 15 billion euros ($16.7 billion) with the aim of becoming the world's number two offshore wind developer after Denmark's Orsted. The two utilities, which have no operational offshore wind parks so far, said they will combine their offshore wind assets and project pipelines, starting with a total of 1.5 gigawatts (GW) under construction and 4 GW under development. "From day one, the JV will be among the top five players in this market," Engie CEO Isabelle Kocher said at a press briefing on the new joint venture in London.
Activist investor Elliott called on Thursday for shareholders in EDP-Energias de Portugal to reject a reform of voting rights, in a move that could scupper a 9-billion-euro (£7.70 billion)takeover offer for EDP from China Three Gorges (CTG). CTG launched its bid for the utility in May 2018 on the condition that a 25-percent voting right limit was scrapped. All EDP shareholders have to keep to that limit, regardless of the stake they hold.
LONDON/SAO PAULO (Reuters) - Portugal's Energia de Portugal EDP could propose a joint venture with China Three Gorges (CTG) allowing CTG to expand its foothold in Brazil and Latin America if the Chinese power giant's bid to take over EDP fails, people familiar with the matter said. CTG, EDP's main shareholder with a 23 percent stake, is among Chinese state-backed companies that have been increasing their investments in European countries such as Portugal, Greece and Cyprus over the past few years.
Portuguese utility company EDP announced plans to sell 2 billion euros' (1.7 billion pounds) worth of assets in Portugal and Spain, and raise another 4 billion euros via an asset rotation programme until 2022 to fund its expansion in renewable energy. EDP-Energias de Portugal is the target of a 9 billion euro takeover proposal by China Three Gorges (CTG), which the EDP board has rejected as too low and which is opposed by activist shareholder Elliott Advisors. In a strategic update on Tuesday EDP also earmarked 12 billion euros for capital expenditure between 2019 and 2022, with 75 percent of that to be spent in North America and Europe, CEO Antonio Mexia told investors and analysts during a presentation in London.
Shell plans to enter Britain’s offshore wind market by acquiring seabed leases or taking stakes in existing projects, despite the country's impending departure from the European Union, the head of the company's New Energies division said. Shell previously said it would spend $1 billion to $2 billion a year on green technology. "We absolutely would like to get a position in the UK offshore (wind) market," Mark Gainsborough, executive vice president at New Energies, told Reuters in an interview.
Armed with a 3 percent interest in Portuguese utility Energias de Portugal SA, the hedge fund has written to the board to oppose the 9.1 billion euro ($10.3 billion) takeover proposal from China Three Gorges Corp. Elliott has outlined a defense strategy that would have been better coming from EDP itself, and other shareholders can be grateful. Three Gorges made an low offer in May in the hope of taking its 23 percent stake over 50 percent, saying it wanted to take control and inject some of its own assets while keeping EDP listed in Lisbon. Whether the delay is caused by slow regulators or a hesitant Three Gorges, the specter of a takeover makes it hard for life to be business as usual.
Activist investor Elliott on Thursday challenged a bid by China Three Gorges for utility EDP-Energias de Portugal, saying it had a "superior" plan that included raising 7.6 billion euros from asset sales. State-owned CTG, which is already EDP's largest shareholder with a 23 percent stake, launched a 9 billion euro ($10.13 billion) bid for Portugal's biggest company in May last year. EDP's board has rejected the 3.26 euros per share offer as too low.
Spain aims to close all seven of its nuclear plants between 2025 and 2035 as part of plans to generate all the country's electricity from renewable sources by 2050. Energy Minister Teresa Ribera announced the move on Tuesday, just as the Socialist government gears up to call an early national election in anticipation of losing a budget vote. Overhauling Spain's energy system, which generated 40 percent of its mainland electricity from renewable sources in 2018, will require investment of 235 billion euros ($266 billion) between 2021 and 2030, Prime Minister Pedro Sanchez said last month.
BRUSSELS/LONDON/HONG KONG (Reuters) - China Three Gorges halted talks with EU regulators about its proposed 9 billion euro (£8 billion) takeover of Portugal's EDP-Energia de Portugal over a month ago, two sources close to the matter said, casting doubt on whether the deal will progress. CTG launched a bid to take control of EDP, of which it already owns 23 percent, in May last year, but the transaction has moved at a slow pace. Sources say CTG has yet to complete regulatory filings in Europe and the United States, although Portugal's regulator said there are no signs the Chinese state-owned utility is preparing to abandon the deal.
There are no signs that China Three Gorges (CTG) is preparing to abandon its 9 billion euro (8 billion pounds)takeover bid for EDP-Energias de Portugal , an administrator at Portugal's CMVM securities market regulator said on Thursday. State-owned CTG, which is already the largest shareholder in EDP with a 23 percent stake, launched its bid for Portugal's biggest company in May last year.
The Ba2 rating assigned to the Hybrid is two notches below EDP's senior unsecured rating of Baa3, reflecting the features of the Hybrid. Its maturity is 60 years, it is deeply subordinated and EDP can opt to defer coupons on a cumulative basis. As the Hybrid's rating is positioned relative to another rating of EDP, a change in either (1) Moody's relative notching practice or (2) the senior unsecured rating of EDP could affect the Hybrid's rating.
Today we'll look at EDP - Energias de Portugal, S.A. (ELI:EDP) and reflect on its potential as an investment. Specifically, we're going to calculate its Return On Capital Employed (ROCE), Read More...
Asia Pacific M&A volumes clocked their second-highest level on record this year and dealmakers are optimistic the momentum will persist into 2019, with inbound deals into China emerging as a strong theme amid political and macroeconomic headwinds. Japan, India and Australia are expected to drive deal flow for the region, while China is likely to change course to focus on industrial consolidation and reform amid tightened regulatory scrutiny and an ongoing trade war with the United States that has roiled markets worldwide. Private-equity firms, which are sitting on record levels of dry power - money committed but not yet invested, will also be active as they come under pressure to target bigger deals, particularly buyouts, bankers have said.