Algeria to cancel gas deliveries to Naturgy if shares sold to another company, source says [Reuters]
NATURGY ENERGY GRP U/ADR (GASNY)
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Source: Reuters
The source did not name the firm that could buy Naturgy shares, but Abu Dhabi's TAQA last month it was in discussions with Naturgy's three largest shareholders which could lead to a possible full takeover bid for the largest natural gas firm in Spain. Naturgy has a stake in a key gas pipeline between Spain and Algeria, as well as key contracts with Algeria's Sonatrach, which supplies gas to Spain through a pipeline. Naturgy also has a long-term contract to import some 3 billion cubic metres (bcm) of Russian liquefied natural gas every year. "Naturgy has signed take or pay supply contracts until 2032 with Algeria," a company spokesperson told Reuters. Report this ad "Naturgy is not part of any negotiation on the company's shareholding, as was made clear in the relevant facts published at the time." A spokesperson for Spain's energy ministry declined to comment. TAQA said last month it was in talks with private equity firms CVC and GIP, each owning more than 20% of Naturgy,
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News
- Naturgy says gas supply contracts with Algeria unaffected by shareholding changes [Reuters]Reuters
- Spanish government signals openness to TAQA's bid for Naturgy [Reuters]Reuters
- Spain energy minister: early to say if state will take stake in Naturgy [Reuters]Reuters
- Naturgy surges as Abu Dhabi's TAQA confirms talks eyeing full takeover [Seeking Alpha]Seeking Alpha
- Abu Dhabi's Taqa Holds Talks With Naturgy Holders About Deal [Yahoo! Finance]Yahoo! Finance