State Grid, Oman Oil, Brookfield to Bid for Portugal’s Sale of REN Stake - Bloomberg

The Portuguese government said it approved State Grid International of China, Oman Oil Co. and Brookfield Infrastructure Group Corp. as bidders in the planned sale of stakes in REN-Redes Energeticas Nacionais (RENE) SA.

National Grid Plc withdrew a proposal, Luis Marques Guedes, the secretary of state for the presidency of the council of ministers, said today at a press conference in Lisbon. The government aims to complete the sale as soon as possible, Marques Guedes said.

Portugal in April became the third euro-area country after Greece and Ireland to request a bailout from the European Union and the International Monetary Fund. As part of that aid package, the government will sell its stakes in energy companies including REN and utility EDP-Energias de Portugal SA.

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