Altri to take full control of EDP Bioelectrica in EUR-55m deal
Forest biomass. Author: Oregon Department of Forestry. License: Creative Commons, Attribution 2.0 Generic.
Portuguese eucalyptus pulp producer Altri has reached an agreement with Energias de Portugal SA (ELI:EDP) to buy all the shares the latter holds in biomass company EDP Producao Bioelectrica SA.
Through its subsidiary Caima Industria de Celulose SA, Atris is acquiring 50% of the share capital, credits and voting rights it did not already have for an estimated value of EUR 55 million (USD 64.3m). By doing so it will take full control of EDP Bioelectrica, Altri announced on Tuesday.
EDP Bioelectrica, which specialises in electric power production using forest biomass, has four operating plants in Portugal and a fifth one under construction. These plants have a combined capacity of 100 MW.
The acquisition is subject to evaluation by Portugal's Competition Authority (AdC), with the conclusion estimated to occur during the second half of 2018, the company noted.