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  • Gas Natural Fenosa completes sale of 20% of the natural gas distribution in Spain for 1.5 billion Euros
    édité le 21/03/2018 - Plus de news de "Naturgy" - Voir la fiche entreprise de "Naturgy"


Gas Natural Fenosa completes sale of 20% of the natural gas distribution in Spain for 1.5 billion Euros
GAS NATURAL FENOSA signed the agreement today to sell a 20% minority stake in the company Holding de Negocios de Gas, S.A., which owns the gas distribution network assets in Spain, to a long-term infrastructure investment consortium comprised of Allianz Capital Partners and Canada Pension Plan Investment Board.

Following approval from the competition authorities, the energy company formalised the transaction under the agreed terms. As a result, GAS NATURAL FENOSA receives a total of €1.5 billion in cash from the consortium for the 20% stake sold in Holding de Negocios de Gas. The transaction also generates positive equity reserves for GNF for the amount of approximately €1 billion.

GAS NATURAL FENOSA retains an 80% stake and will continue to consolidate the company Holding de Negocios de Gas through global integration.

The company’s Board of Directors is comprised of 7 directors, 5 designated by GAS NATURAL FENOSA and 2 designated by the consortium.

The companies integrated in Holding de Negocios de Gas include Nedgia S.A., which covers the gas distribution assets in Spain, as well as stakes in the regional distributors, exceeding 5.3 million supply points and 51,000 kilometres of network.

About Gas Natural Fenosa

Gas Natural Fenosa is a leading multinational group in the energy sector, and a pioneer in gas and electricity integration. Operating in over 30 countries, the company provides its services to almost 22 million customers on all five continents and manages a total installed capacity of 15.5 GW with a diverse portfolio of power generation technologies.

About Allianz

The Allianz Group is one of the largest insurers and asset managers in the world with over 86 million retail and corporate clients. Allianz clients benefit from an extensive range of personal and corporate insurance services that range from property insurance, life insurance and health insurance to credit insurance assistance services and global insurance for companies. Allianz is one of the largest insurers in the world, managing over 650 billion euros on behalf of its insurance clients, while our asset managers Allianz Global Investors and PIMCO manage 1.3 trillion additional euros of third-party assets. Thanks to our systematic integration of environmental and social criteria into our business processes and investment decisions, we maintain a leading position on the Dow Jones Sustainability Index. In 2016, over 140,000 employees in over 70 countries achieved total revenue of 122 billion euros and an operating profit of 11 billion euros for the group.

About CPPIB

Canada Pension Plan Investment Board (CPPIB) is a professional investment management organisation that invests surplus funds from the Canada Pension Plan (“CPP”) to cover the current payments of its 20 million

contributors and beneficiaries. In order to create a diversified asset portfolio for CPP, CPPIB invests in public and private companies, real estate assets, infrastructures and fixed income instruments. Based in Toronto, it also has offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney. CPPIB is governed and managed independently from the Canada Pension Plan (“CPP”) and operates as an extension of governmental bodies. At 31 March 2017, the assets owned by the CPP fund amounted to 316.7 billion Canadian dollars.


Origine : Communiqué Naturgy

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