Portugal buys 13.7% stake in grid operator REN

REN Redes Energeticas Nacionais SGPS SA

15/08/2026 13:10

LISBON, Aug 15 (Reuters) - Portugal's state holding company Parpublica bought a 13.7% stake in power grid operator REN RENE.LS from Zara owner Amancio Ortega's investment vehicle Pontegadea, REN said late on Friday, marking the state's return to its capital 12 years after the company was privatised.
The value of the deal was not disclosed, but the 91.72 million shares bought were worth around €325 million at Friday's market close.
Prime Minister Luis Montenegro said separately that the government intended to safeguard Portugal's strategic interest in its electricity infrastructure with the acquisition.
He added that the deal represented a good investment, paying around 4% in dividends, and that there were no plans to re-nationalise REN.
The acquisition is in line with Montenegro's plan, announced in June, to create a sovereign wealth fund to hold stakes in strategically important infrastructure and energy firms.   
He has also said the government wants the capacity to intervene in REN's management following a massive blackout in April 2025 that hit Spain and Portugal.
In April, the government rolled out a €22.6 billion ($26.5 billion) investment programme for the next nine years, aimed at mitigating risks including climate change and power outages and including investment in power and gas grids.

(Reporting by Andrei Khalip; Editing by Kirsten Donovan)
(((andrei.khalip@thomsonreuters.com; (351 213-509-209)))