China Three Gorges halts talks with EU regulators on EDP takeover
State-owned utility firm China Three Gorges has halted discussions with European Union regulators over its plans to acquire Portugal’s Energia de Portugal for EUR9 billion (US$10.3 billion).
China Three Gorges launched a bid to take over EDP, in which it already holds a 23% stake, on May 2018, but the deal has progressed slowly.
CTG has not yet finished regulatory filings for the deal in Europe and the United States, but the company has not indicated that it wishes to abandon the acquisition.
CTG’s interest in the deal may have fallen due to several factors, including a change in management at the firm, EU proposals to tighten foreign investment rules, and increases in European energy tariffs.
Country updates
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January 29, 2019
Acciona closes purchase of 50% stakes in 24 MW Eólico Alijar and 28.5 MW Valdivia Energía Eólica wind projects
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January 29, 2019
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