GIP to buy $4.5 billion stake in Gas Natural
According to Spanish newspapers, Global Infrastructure Partners (GIP) is in preliminary discussions to acquire a stake in Gas Natural SDG SA, the largest integrated gas and electricity company in Spain and the third largest distributor of gas and electricity on the Iberian market.
Spanish global energy company Repsol owns about 34% of Gas Natural and Criteria Caixa, a subsidiary of Spain's third largest financial institution, La Caixa, owns 30%. Both are considering different possibilities to sell about 10 percent of Gas Natural’s shares each.
The sale of the 20% stake could reach a total amount of about €4billion (US$4.46 billion).
KKR & Co., an American multinational private equity firm, is also considering to invest in the company, according to sources.
In January 2015, GIP invested in the clean-energy assets of Spain’s Actividades de Construccion y Servicios (ACS). The GIP/ACS partnership will consist of two principal components:
- acquisition by GIP of up to a 24.4% ownership interest in Saeta Yield S.A. (Saeta) which owns 688 MW of operating wind and solar assets in Spain, and
- acquisition of a 49% stake in another company which will own the remaining 460 MW of assets located in Spain, Portugal, Mexico, Uruguay and Peru and will be responsible for future development of renewable energy assets around the globe
Country news
-
-
August 18, 2016
Cubico Sustainable Investments completes acquisition of 67 MW operating Spanish wind farm from Elecnor
Cubico Sustainable Investments, a global leader in renewable energy and water investment, has announced that it has acquired, with its partner Plenium Partners, a 67 MW wind farm in Valencia (Spain) from Enerfin, one of Spain’s leading wind farm developers and operators and a subsidiary of Elecnor. Read more -
August 09, 2016
Enel Green Power to sells 60% stake in Spanish subsidiary to Endesa
Enel Green Power International (EGPI) has agreed to sell a 60% ownership in Enel Green Power España (EGPE) to Endesa Generación. Read more -
August 08, 2016
Planning progresses for Extremadura 500 MW solar facility
The government of the autonomous Spanish community of Extremadura has completed environmental and administrative studies on the 500 MW solar PV project located in the municipality of Usagre, in the southwest of Spain. Read more -
August 01, 2016
Gipuzkoa tenders waste to energy concession
The government of Guipuzkoa, Basque country (Spain) has launched the tender process for the Zubieta waste-to-energy plant through the PPP model. Read more -
July 25, 2016
Isolux negotiates with I Squared sale of T-solar
Isolux has commenced exclusive negotiations with I Squared for the sale of its solar power subsidiary T-Solar, which was put up for sale nine months ago. Read more
