Morais Leitão advises Pontegadea on REN stake sale
Morais Leitão has advised Pontegadea Inversiones on an agreement to sell its stake in REN – Redes Energéticas Nacionais to Parpública Participações Públicas (SGPS). The transaction, announced on 17 August 2026 in Lisbon, involves the transfer of 91,723,676 shares in REN, representing approximately 13.7% of its share capital.
REN has a market capitalisation of approximately €2.35 billion, and the deal is being described as one of the largest capital markets transactions in Portugal this year. Once the transaction is completed, Parpública will become REN’s second-largest shareholder, taking over the position previously held by Pontegadea. Completion remains subject to approval by the Portuguese Court of Auditors.
The team
The Morais Leitão team advising Pontegadea on the transaction was led by Ricardo Andrade Amaro, together with Pedro Capitão Barbosa and Maria João Bernardes.
