June 25, 2018 / 7:53 PM / 5 months ago

France's Engie considers offer for EDP Renovaveis - Bloomberg

Engie logo is pictured during the group's shareholders general meeting in Paris, France, April 28, 2015. REUTERS/Benoit Tessier

(Reuters) - French energy group Engie is considering a bid for the 7.3 billion-euro (£6.4 billion) renewables unit of Portuguese power firm EDP-Energias de Portugal SA, Bloomberg reported on Monday.

Engie is working with advisers on evaluating offers for all or part of EDP Renovaveis SA, the report said, citing people with knowledge of the matter.

Engie and EDP were not immediately available for comment.

State-owned China Three Gorges last month launched a 9 billion euro bid to take over both EDP and EDPR, offering 3.26 euros a share and 7.33 euros a share respectively - both of which were rejected by the Portuguese utility as not reflecting the value of the company.

EDP, however, signalled it is open to an improved offer and said the strategic intentions in the takeover plan, such as maintaining EDP’s Portuguese identity and contributing some overseas China Three Gorges’ assets to EDP, had some merit.

Reporting by Rama Venkat Raman in Bengaluru; Editing by Alexander Smith

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