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EDP Sells $515M Brazilian Unit Stake

EDP Energias de Portugal has sold shares worth $514.7 million of its Brazilian unit.

EDP Energias de Portugal has sold shares worth $514.7 million of its Brazilian unit, The Wall Street Journal reports. The Portuguese electric energy company reduced its stake in Energias do Brasil from 64.8% to 51%.

The company sold the shares through a public offering on the Sao Paulo Stock Exchange. Espirito Santo Investment Bank, Banco Itau, Morgan Stanley and Banco Santander served as the coordinators for the sale.

Click here for the story from The Wall Street Journal.

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