The Canada Pension Plan Investment Board, one of the world’s largest pension funds, raised about €814.7 million ($942.6 million) from the sale of its stake in Portuguese energy company EDP SA.
CPPIB priced the sale at €3.729 per share in an overnight placing arranged by Goldman Sachs Group Inc., according to terms seen by Bloomberg News. That marked a discount of about 6% to Monday’s closing price. The holder sold 218.5 million shares in the offering, slightly less than the 225 million that was originally marketed to investors, the terms show.