Portuguese utility EDP has concluded the sale of its stake in Macau´s energy company CEM to China Three Gorges, it´s biggest shareholder.
In a statement, EDP informed it has completed on 17 june the sale of EDP’s remaining 50% stake in Energia Ásia Consultoria, Lda. to China Three Gorges International Limited, for EUR 100 million.
Energia Ásia was owned 50/50 by EDP and ACE Asia Co. Ltd and its sole asset is a 21.2% stake in Companhia de Electricidade de Macau – CEM, S.A.
EDP Sells Stake in Macau’s Power Utility CEM as Portuguese Groups Leave Former Colony
CEM” acts as the exclusive concessionaire for transmission, distribution and supply of electricity in Macau since 1985.
“This transaction allows EDP to reallocate capital to its core activities and is fully aligned with EDP’s 2023–2026 Business Plan”, EDP said.
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