Portuguese utility EDP-Energias de Portugal SA (EDP.LB) sold its stakes in two power plant operations to the Portuguese unit of U.K.'s International Power PLC (IPR.LN) for EUR140 million, EDP said in a regulatory filing late Tuesday.
The sale involves a 40% stake in combined cycle gas fired plant company Turbogas, as well as a 27% stake in power plant maintenance firm Portugen.
"The sale of these assets is in line with EDP's strategy of divesting non-core assets, minority stakes with no synergies with other assets in EDP," the statement said.
EDP also said it will book a EUR50 million gain with the asset sales