Amancio Ortega expands its commitment to the energy sector and buys 12% of the Portuguese REN

Amancio Ortega expands his commitment to the energy sector. The richest man in Spain has acquired a 12% stake in the Portuguese REN, equivalent to Red Eléctrica de España (REE) and owner of the high voltage network and gas pipelines in the neighboring country. The founder of Inditex thus becomes its second private shareholder.

The operation has been announced a day after its investment holding company, Pontegadea, has also acquired 5% of the Spanish REE, becoming its second shareholder, only behind the State (REE), by taking a package valued at 456 millions.

In the case of REN, its holding Pontegadea has acquired the entire stake that was in the hands of the company Oman Oil, also an Enagás shareholder, of which Ortega in turn owns 5%. “As a result of this acquisition, Pontegadea Inversiones SL directly owns 12.006% of REN’s voting rights,” as the company communicated this Friday to the CMVM, the Portuguese equivalent of the National Securities Market Commission (CNMV).


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