(Bloomberg) Elliott Management Corp. plans to continue pushing EDP-Energias de Portugal SA to sell its Brazilian assets, contending that’s the best way for the utility to unlock value for shareholders, according to people familiar with the matter.
EDP announced last week that it plans to dispose of 2 billion euros ($2.3 billion) in non-core assets through 2022, mainly in Spain and Portugal. Elliott, which owns 2.9 percent of EDP, believes that strategy ignores the opportunity that would be created by selling its 51 percent EDP-Energias do Brasil SA stake, said the people, who asked not to be identified because the deliberations are private.
