This Tuesday, Criteria confirmed the negotiations for the entry of a new partner into the capital of the gas company, as stated in a relevant fact sent to the CNMV. The potential operation, which would involve an investor of Emirati origin, was reported this Monday by La Vanguardia.
“Currently, Criteria is holding talks with a potential investment group that has stated that it is in contact with some of Naturgy’s reference shareholders and is interested in reaching a potential partner agreement with Criteria,” he explains in the note to the market. The group’s shares soared up to 8% in the session this Tuesday, above 22.50 euros, due to the possibility of a takeover bid (public offer for the acquisition of shares).
The holding company chaired by Isidro Fainé and directed by Ángel Simón points out that the talks “are in a preliminary stage without it being possible to predict their outcome.” He then points out that the negotiations are taking place between the group interested in Naturgy and the rest of the shareholders, so he does not have more information in this regard. The operation would imply a change of hands of 40% in possession of the CVC and GIP funds, valued at more than 8,000 million euros.
The negotiations are part of Criteria’s long-term investment commitment in Naturgy. The holding company that manages the business assets of the La Caixa Foundation indicated at the beginning of the month “explicit support” for the transformation plan in which the company is immersed. With this objective “it regularly maintains conversations to explore alliances with possible partners that could allow Naturgy to deepen its transformation and accelerate its energy transition and contribute to the recomposition of its shareholders under different formulas.”
