ENERGIAS DE Portugal (EDP) has acquired a major Spanish gas distribution company.
Following a deal with Iniciativas Emeritenses, S.A. y Extremadura 2000 de Gas, S.A., Gas Mérida was bought by the electrical giant for 15 million euros.
The deal, which has not yet been given the green light by European energy regulators, was carried out through Naturgas Energía which is owned by EDP.
EDP explained that the agreement, which counts on a 100 per cent stake in the distributor, is likely to be approved by the national energy regulator commissions in both countries.
With a turnover of 1.7 million euros in 2007 and 100 kilometres of gas pipeline network, Gas Mérida is a natural gas distribution company with its headquarters based in Mérida, the capital of the Autonomous Region of Extremadura, and which began its activities in 2001.
“This purchase operation fits into EDP’s overall growth strategy, through Naturgas Energía, taking advantage of investment opportunities in the company’s traditional markets,” stated EDP.
