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2011-12-22 - 17:01:00 - DJ Portugal Fin Min: Privatizations Diversify Financing Sources
 

*DJ Portugal Fin Min: Privatizations Diversify Financing Sources


(MORE TO FOLLOW) Dow Jones Newswires

December 22, 2011 11:19 ET (16:19 GMT)

*DJ Portugal Finance Minister Declines To Comment On EDP Stake Sale


(MORE TO FOLLOW) Dow Jones Newswires

December 22, 2011 11:20 ET (16:20 GMT)

*DJ Portugal Gaspar: Privatizations Show We Can Offer Opportunities


(MORE TO FOLLOW) Dow Jones Newswires

December 22, 2011 11:21 ET (16:21 GMT)

DJ Portugal Fin Min: Privatizations Diversify Financing Sources


    By Patricia Kowsmann
    Of DOW JONES NEWSWIRES

LISBON (Dow Jones)--Portugal's Finance Minister Vitor Gaspar said Thursday the country's privatization plan has drawn important interest and shown that Portugal provides valuable investment opportunities.

In an interview, Gaspar declined to comment specifically on the sale of the state's 21% stake in EDP-Energias de Portugal SA (EDP.LB). The government said earlier Thursday that it will sell the stake to China's Three Gorges Corp. for EUR2.69 billion, although total investments may be more than EUR8 billion.

"The privatization program is not only important because it gives us access to a source of financing which currently is very important to the Portuguese economy, but also because it shows that one can diversify the sources of financing of the Portuguese economy," Vitor Gaspar said in an interview.

The Chinese company was picked in a tight race for the stake in the power utility. Other bidders included Germany's E.ON AG (EOAN.XE) and Brazil's Centrais Eletricas Brasileiras SA (EBR) and Companhia Energetica de Minas Gerais-CEMIG (CIG).


-By Patricia Kowsmann, Dow Jones Newswires, +351-916-466-297;

patricia.kowsmann@dowjones.com


(END) Dow Jones Newswires

December 22, 2011 12:01 ET (17:01 GMT)

Copyright (c) 2011 Dow Jones & Company, Inc.

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