State Grid Corporation of China is to acquire 25 per cent of Portugal’s national power grid in the second large-scale Portuguese acquisition by a Chinese energy group in six weeks.
Lisbon said yesterday that state-owned Oman Oil, the only other bidder, would acquire 15 per cent of the grid operator Redes Energéticas Nacionais in a deal that values the 40 per cent being sold by the Portuguese state at €592m.
Under the terms of its €78bn financial rescue package, Portugal agreed to sell 40 per cent of REN to international bidders.
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