Minister Pledges Further Privatisation of Energy Sector

The Portugal News 10apr04

[More on The Carlyle Group]

Further privatisation of Portugal’s energy sector involving the country’s largest oil company and power utility will take place within the coming year, Lisbon’s economy minister has said.

Minister Carlos Tavares was reported as saying by the Lusa News Agency that the Portuguese state will reduce its 30 percent stake in the EDP electricity utility to 10 percent through a public share offer valued at 600 million euros.

Minister Tavares also announced that the Portuguese government has invited a national consortium and two US groups to join the Galp Energia oil company, in which the state is a controlling stakeholder, as "strategic partners" (see “Carlyle group asked to join Galp” on this page)

BUSINESS - 10/04/2004

source: http://the-news.net/cgi-local/story.pl?title=Minister%20pledges%20further%20privatisation%20of%20energy%20sector&edition=all 21sep04