The Portuguese State purchased a 13.7 percent stake in REN, Redes Energéticas Nacionais, from Amancio Ortega's group, founder and owner of Zara. The operation represents a reinforcement of public participation in the energy company.
The amount paid by the State was 380 million euros. This sum exceeds the market price by 55 million euros, meaning the State paid a premium for the acquired shareholding position.
With this purchase, the Portuguese State increases its control over REN, the company that manages energy grids in Portugal. The acquisition was made directly from Ortega's group, which was one of the main shareholders of the company.
The operation is part of a strategy to reinforce the State's presence in strategic sectors, such as energy. The investment was approved by the Portuguese government under the policy of securitization of assets considered essential to the country.
