Bailed-out Portugal on Wednesday sold a 40 percent stake in grid operator REN for 592 million euros (775 million U.S. dollars) to Chinese and Omani companies as part of Lisbon's austerity package.
According to contracts signed here Wednesday, China State Grid will hold a 25 percent stake in Portuguese national electricity transmission grid REN, while the Oman Oil Company will control another 15 percent.
A first tranche of 160 million euros have already been received by the Portuguese government. The rest of the payment will be made in three months.
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