|Bid||17.17 x 0|
|Ask||17.02 x 0|
|Day's Range||16.85 - 17.19|
|52 Week Range||12.29 - 19.32|
|Beta (3Y Monthly)||0.49|
|PE Ratio (TTM)||8.22|
|Earnings Date||May 9, 2019|
|Forward Dividend & Yield||0.06 (0.36%)|
|1y Target Est||16.95|
It was only the third megadeal out of China since the heady days of 2016, when $239 billion of foreign purchases were announced. The fact that EDP-Energias de Portugal SA was being pursued by Three Gorges, a state-owned firm, was taken as a sign that Beijing would bless selective strategic deals while reining in inexperienced companies’ more frothy purchases. Three Gorges is now planning to scale back the EDP offer and is evaluating smaller alternative transactions amid concerns about political hurdles and valuation, people familiar with the matter said last week.
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.
(Recasts throughout, updates prices, adds market strategist's quote) By Agamoni Ghosh Feb 28 (Reuters) - Latin American stocks and currencies fell on Thursday as concerns about Sino-U.S. trade relations, weak Chinese data and an abrupt end to a U.S.-North Korea summit shrunk risk appetite. MSCI's index of Latin American stocks fell over 2 percent, dragged by heavy losses in Argentina and Brazil, while currencies in the region stumbled against the dollar after strong GDP numbers from the U.S. boosted the greenback. Adding to that, receding optimism on the U.S.-China trade talks and an abrupt end to a meeting between U.S President Donald Trump and North Korean leader Kim Jong Un on denuclearization, dampened sentiment.
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.
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.
By Sergio Goncalves and Catarina Demony LISBOA, Dec 4 (Reuters) - A China quer aprofundar a parceria estratégica com Portugal, reforçando os projectos actuais e as trocas comerciais, visando criar novos ...
SAO PAULO, Nov. 21, 2018 /PRNewswire/ -- EDP Energias do Brasil S.A. (ENBR3.SA) ("EDP" or the "Company") will host a Management Meeting on Monday, November 26, 2018 at Omni Berkshire Place New York (21 East 52nd Street at Madison Avenue). This event, held for analysts and institutional investors, will feature presentations by Miguel Setas (CEO), Henrique Freire (CFO) and Otavio Henriques (COO).
Moody's América Latina Ltda., (Moody's) today affirmed the Corporate Family Ratings (CFR) of Statkraft Energias Renovaveis S.A.(SKER) at Ba3 on the global scale and A1.br in the National scale. The outlook for all ratings is stable. The affirmations follow the announcement that SKER will acquire eight small operating hydropower plants from EDP - Energias do Brasil (EDPB, Ba2/Aa2.br stable), for a total amount of BRL704 million.
This article is intended for those of you who are at the beginning of your investing journey and looking to gauge the potential return on investment in EDP – EnergiasRead More...
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines Indian celebrity jeweller flees to UK claiming political ...
EDP-Energias de Portugal sees merits in the plans of suitor China Three Gorges (CTG), it said on Saturday, signalling it may be open to an improved offer after rejecting a 9 billion euro (8 billion pounds) takeover proposal as too low. The board of the Portuguese utility said it could not recommend the current offer from its largest shareholder to other investors, but it would seek more information from CTG. EDP had said on May 15 that CTG's proposal did not adequately reflect the value of the company, indicating it would not back the offer.
There are a number of reasons that attract investors towards large-cap companies such as EDP – Energias de Portugal SA. (ENXTLS:EDP), with a market cap of €12.43B. Doing business globally,Read More...
EDP-Energias de Portugal will remain under normal management without limitations usually imposed by takeover rules because these do not apply to the bid by the state-owned, unlisted entity China Three Gorges, market regulator CMVM said on Friday. CTG last month offered 9 billion euros (8 billion pounds) for the stake it does not already own in the utility, which is Portugal's largest company by assets. EDP has said it considered the 3.26 euro a share bid too low but is yet to announce its formal stance on the overall offer.