June 15, 2018 / 11:22 AM / 3 months ago

CORRECTED-Activist SVM takes stake in Portugal's EDP Renovaveis, seeks board representation

(Corrects company name to EDP Renovaveis)

LONDON, June 15 (Reuters) - Activist firm Shareholder Value Management (SVM) on Friday said it had recently purchased a 2 percent stake EDP Renovaveis, a unit of EDP-Energias de Portugal, and proposed a candidate for the board.

SVM said it had purchased 17.6 million shares and requested the election of corporate and M&A lawyer Alejandro Fernandez de Araoz to the board of directors. (Reporting by Maiya Keidan; editing by Carolyn Cohn)

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