EDP Renewables buys majority stake in Sunseap, values firm at $816 mln
By Anshuman Daga
SINGAPORE, Nov 3 (Reuters) - EDP Renewables (EDPR) has purchased a majority stake in Southeast Asian renewables firm Sunseap Group, in a deal that values the Singapore-based company at S$1.1 billion ($816 million), Sunseap said in a statement on Wednesday.
This follows a Reuters report https://www.reuters.com/business/energy/exclusive-portugals-edp-talks-buy-southeast-asian-renewables-firm-sunseap-2021-10-26 last week that EDPR, 75% owned by Energias de Portugal , Portugal's biggest utility, was in late-stage talks to buy out the stake held in Sunseap by Thai energy firm Banpu, Singapore state investor Temasek Holdings, a Temasek-backed fund and other investors.
Earlier on Wednesday, Banpu PCL said it had agreed to sell its 47.5% shareholding in Sunseap for about S$490 million. ($1 = 1.3483 Singapore dollars) (Reporting by Anshuman Daga; Editing by Himani Sarkar; Editing by Christopher Cushing)
