IFM cleared to buy 22.7% stake in Naturgy

The acceptance period has started for the partial voluntary public takeover offer made by IFM GIF, as advised by the Australian global fund manager IFM Investors, for a maximum of 220,000,000 shares in Naturgy Energy Group, S.A. representing 22.69% of its share capital. This period will be comprised of 30 calendar days, lasting until October 8, 2021.

IFM believes that the offer represents an attractive financial proposition for Naturgy's shareholders willing to accept the offer. The offer price, which is above the high-end of the valuation range concluded by an independent expert, represents a premium of 19.7% on the trading price of the Naturgy shares at the closing of the trading session on January 25, 2021, the date immediately prior to the date of publication of the offer prior to the announcement.