Ares Management buys stake in EDPR assets in about $2.9 billion deal

Core Insights - Ares Management has acquired a 49% stake in a portfolio of assets owned by EDP Renováveis, with the deal valued at approximately $2.9 billion [1] Company Summary - Ares Management is expanding its investment portfolio through this acquisition, indicating a strategic move to enhance its presence in the renewable energy sector [1] - EDP Renováveis is benefiting from this transaction by monetizing a portion of its assets while retaining a majority stake [1]