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Portugal’s EDP raises 1.02 bln euros to finance Viesgo…

LISBON, Aug 7 – Portugal’s largest utility EDP said on Friday it had raised 1.02 billion euros ($1.20 billion) from shareholders to partly finance the acquisition of Spanish electricity company Viesgo.

Around 300 million shares were placed on the market last month, Portugal’s market regulator CMVM said, and all the shares were taken up.

“The total demand registered in the current capital increase represented approximately 256% of the amount on offer,” said EDP, which announced it had agreed to buy Viesgo from Macquarie in July in a deal worth 2 billion euros, including debt.

The deal, which will more than double EDP’s presence in electricity distribution in Spain, is expected to be sealed by the end of the year.. ($1 = 0.8466 euros) (Reporting by Catarina Demony, Editing by Louise Heavens)

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