Morais Leitão advised Pontegadea Inversiones, S.L. on the execution of an agreement with Parpública – Participações Públicas (SGPS), S.A. for the sale of its stake in REN – Redes Energéticas Nacionais, SGPS, S.A.
The transaction involves the transfer of 91,723,676 shares in REN, a company with a market capitalisation of approximately €2.35 billion, representing approximately 13.7% of its share capital. It is one of the largest capital markets transactions in Portugal in 2026. Upon completion of the transaction, Parpública will become REN’s second-largest shareholder, acquiring the stake previously held by Pontegadea.
Completion of the transaction is subject to approval by the Portuguese Court of Auditors.
The Morais Leitão team advising Pontegadea on this transaction was led by Ricardo Andrade Amaro and also included Pedro Capitão Barbosa and Maria João Bernardes.
