EDRVY EDP Renovaveis SA (PK)

   By Nathan Allen 
 

EDP Renovaveis SA (EDPR.LB) said Wednesday that it swung to a loss in the third quarter after revenue fell by 12%.

The Portuguese renewables company booked a net loss of 24 million euros ($27.4 million) compared with a net profit of EUR31 million a year earlier.

Revenue slipped to EUR316 million from EUR358 million, EDPR said.

The company is currently the target of a takeover bid by China Three Gorges, which is looking to acquire EDPR's parent, EDP-Energias de Portugal SA (EDP.LB).

However, CTG's pursuit has slowed recently amid heightened regulatory scrutiny in the EU and U.S. and pressure from EDP's shareholders to raise its EUR9.1 billion bid.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

November 07, 2018 02:38 ET (07:38 GMT)

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