The Portuguese State intends to control a fifth of REN (Redes Energéticas Nacionais), the company that manages the national energy networks. The acquisition by Parpública of 13.7% of REN from Amancio Ortega's holding company represents only the first step of this Government plan to increase state participation in the company.
The stake purchased from the holding company of the founder and owner of Zara cost approximately 390 million euros. The shares are estimated to have been acquired at a price of 4.25 euros per title.
The premium paid by the State on these shares was around 15%, meaning the amount paid was significantly higher than the market price at the time of the transaction. This information was reported by Observador.
