Naturgy takeover rumours

Naturgy takeover rumours

NATURGY: Possible takeover by Abu Dhabi’s TAQA Photo credit: Naturgy

Spain’s National Securities Market Commission (CNMV) suspended trading in Naturgy shares for two hours on the morning of April 17.

According to the Spanish supervisor, the halt was ordered while awaiting “disclosure of relevant information.” This followed rumours of a possible takeover by Abu Dhabi’s TAQA, which was in discussions with Criteria, one of Naturgy’s majority shareholders.

Trading resumed after the government-controlled energy holding company contacted the CNMV, referring to “recent speculations in the Press regarding Naturgy.”

TAQA confirmed that it was talking to Caixabank’s holding company regarding a possible cooperation pact related to Naturgy, while admitting there had also been “conversations” with two other major shareholders, CVC Capital Partners and Global Infrastructure Partners (GIP) who between them own 41 per cent of Naturgy.

“No agreement has been reached with Criteria, CVC or GIP,” TAQA stressed, although even before the CNMV suspension, Nuturgy shares were up by 1.3 per cent at €21.8.

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.

Comments