EDP kicks off Europe’s wave of M&A rights issues
Energias de Portugal, Portugal’s largest utility, is raising €1bn through a rights issue to acquire Spain’s Viesgo. Bankers expect it to be the first of a number of acquisition-related cash calls to be launched in Europe.
The Portuguese utility firm announced on Wednesday that it had entered into an agreement with funds managed by Macquarie Infrastructure and Real Assets (Europe) Ltd (MIRA), to acquire Spanish electricity company Viesgo.
It also announced the establishment of a long-term electricity distribution partnership with MIRA in Spain.The €2bn ...