Morais Leitão on EDP’s and EDPR’s €2b equity raise
Morais Leitão has advised Energias de Portugal (“EDP”) and EDP Renováveis (“EDPR”) on its €2m equity raise, both made through accelerated placements with institutional investors.
The equity raise at EDP involved the issuance of 218,340,612 shares and aggregate proceeds of approximately €1 billion and was announced to fund the offer to purchase the shares held by the minority shareholders in EDP Energias do Brasil.
In turn, the equity raise at EDPR involved the issuance of 50,968,400 shares and also aggregate proceeds of approximately €1 billion, with the objective of funding the development of circa 17 GW of installed capacity in renewable energy projects until 2026.
The team from Morais Leitão advising on this deal was formed by the partners, Ricardo Andrade Amaro (pictured) and Diana Ribeiro Duarte, the senior associate, Pedro Capitão Barbosa and the associate, Margarida Mesquita Machado.
King & Wood Mallesons (“KWM”) has advised EDPR in the spanish law aspects of the transaction and the joint global coordinators responsible for the offer were advised by Uría Menéndez (Madrid and Lisbon offices).