investors > EDP Share > Privatisation > 8th Privatisation Phase

8th Privatisation Phase

On 26 October 2011, the Portuguese Government approved, through the Decree-Law no 106-A/2011, of 26 October, the 8th stage of the privatisation of EDP’s social capital. This was carried through a direct sale by Parpública – Participações Públicas (SGPS), S.A., of shares representing 21.35% of EDP’s social capital, therefore revoking the framework established by the Decree-Law no 105/2010 of 1 October.

On 22 December 2011, Parpública announced that the Council of Ministers selected China Three Gorges Corporation for the acquisition of 780,633,782 shares, which represent 21.35% of EDP’s social capital, at a price of €3.45 per share, as the greatest result achieved under the binding offer presented on 9 December 2011, which included the criteria of selection predicted in article no 5 of the tender documents attached to the Council of Ministers Decision no 44-A/2011, of 8 November.

On 11 May 2012, China Three Gorges and Parpública notified EDP about the establishment of a qualified shareholder participation by China Three Gorges and the resulting reduction of the participation of Parpública to 4.144% of EDP’s share capital, which would subsequently be sold (see 7th stage of privatisation), leading to a reduction of Parpública capital on EDP to 0%.