EDP Plans Brazil Selldown

Energias de Portugal (EDP) is planning to hold a secondary share sale of Energias do Brasil (EDB) shares, Energias do Brasil says. The Portuguese utility holds 64.8% of EDB, and would like to reduce that by as much as 14.0%, and has received board approval to do so. It does not give any indication about the timing of the sale. EDP had said in March that it aims to raise EUR500m though asset sales this year.