EDP, through its subsidiary for the gas business in Spain, EDP Naturgas Energy, has reached an agreement with Repsol for the acquisition of assets of gas distribution in the north of Spain.

The assets acquired include approximately 82 000 points of liquefied propane gas supply, localized in the areas where EDP is involved in terms of gas (the Basque Country, Asturias and Cantabria).

The price of gas in the transfer is of 116 million euros for the mentioned assets, with an expected annual contribution to EBTIDA of around 13 million euros.

The closure of the operation is conditioned to a due diligence and to determined conditions, that include the pertinent authorizations of the authorities in charge and the competent regulatory authorizations, and therefore its materialization is expected for the second semester of 2016.

EDP

EDP is an international leader energy group in creation of value, innovation and sustainability. It is part of the Dow Jones Sustainability Indexes (World and STOXX) apart from being world leader in renewable energy,

In Spain, EDP is a reference company in the energy market, present in the generation, distribution and commercialization of electric energy and gas, with a portfolio of more than two million clients all over the world.

EDP is leader in gas in Cantabria and the Basque Country, as well as in Asturias, where it is also the referent electricity operator.