Portuguese utility Energias de Portugal has signed an agreement to acquire 100% of the share capital of US-based Horizon Wind Energy.
EDP will acquire the wind power generator from The Goldman Sachs Group for the value of US$2,150 million. Horizon's net financial debt as of December 31, 2006 was US$180 million. The total cash consideration to be paid at the closing of the transaction will be adjusted for capital expenditures, which EDP said are currently estimated to amount to an additional US$600 million. The transaction is subject to regulatory approval, but is expected to close by the end of Q2 2007.
