CNMV receives IFM's offer for 22.7% stake acquisition in Naturgy
Date
March 05, 2021
Type
M&A Transactions
Subtype
Transaction agreement announced
Countries
Spain
Subsectors
Multisector
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Australian institutional investor, IFM Global Infrastructure Fund, has submitted an application for the acquisition of a 22.69% stake in power and gas utility Naturgy to Spanish market regulator Comisión Nacional del Mercado de Valores (National Securities Market Commission).
The Fund seeks to acquire up to 220 million shares in Naturgy for a total consideration of EUR5.06 billion (US$6.11 billion).
The Ministry of Industry, Trade, and Tourism (MINCOTUR) of Spain is set to evaluate the proposal of IFM.
