Iberdrola, Endesa Make Non-Binding Offers for EDP Assets -Sources

   By Alberto Delclaux

Iberdrola SA (IBE.MC) and Endesa SA (ELE.MC) have submitted non-binding offers for the hydro-electric and renewable assets that EDP-Energias de Portugal SA's (EDP.LB) is selling in the Iberian Peninsula, two people familiar with the matter told Dow Jones Newswires on Thursday.

The people didn't specify the value of the offers.

Endesa Chief Executive Jose Bogas said last week that the company was interested in the assets, in response to media speculation. A day later, Iberdrola's chairman, Ignacio Galan, said the company had studied all such opportunities in response to questions on a conference call.

EDP launched a divestment program in March in an effort to raise at least 6 billion euros ($6.68 billion) to pay down debt and invest in renewables.

This story was translated in whole or in part from a Spanish-language version initially published by EFE Dow Jones, a partner of Dow Jones & Co.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

August 01, 2019 07:07 ET (11:07 GMT)

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