Portugal´s EDP acquires Viesgo for €2.7bn

The transaction includes the establishment of a long-term collaboration agreement between EDP and Macquarie for the integration of their electricity distribution businesses in Spain, with EDP holding 75.1% of the company that owns the joint business and Macquarie the remaining 24.9%. This agreement includes the companies E-Redes (previously wholly owned by EDP), Viesgo Distribución and Begasa.

Additionally, in this operation EDP has acquired two thermal power plants in Spain.

According to a statement, this transaction is the largest made by EDP outside of Portugal after the takeover bid that allowed it to acquire Hidroeléctrica del Cantábrico in 2001.

King & Wood Mallesons' Madrid office has advised EDP with a team coordinated by partner Roberto Pomares, which included Gonzalo Olivera, Carlos Gil, Ramón García Gallardo, Barri Mendelsohn, Fernando Jiménez, Gonzalo Fernández, María Redondo, Sandra de Andrés, Cristina Este and Alberto Artés.