Naturgy Is Said to Shelve $2.6 Billion Sale of Australian Assets [BNN Bloomberg (Canada)]
NATURGY ENERGY GRP U/ADR (GASNY)
NASDAQ:AMEX Investor Relations:
gasnaturalfenosa.com/en/1285338472944/shareholders+and+investors.html
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Source: BNN Bloomberg
The Spanish energy group has put the potential sale on hold after early indications of interest from prospective suitors did not meet valuation expectations, the people said, asking not to be identified because the matter is private. Madrid-based Naturgy was seeking to raise about A$4 billion ($2.6 billion) from the disposal, according to the people. Infrastructure-focused investment funds and renewable energy companies were among bidders, one of the people said. A sale process could be revived at a later stage, the people said. Naturgy shares have dropped about 26% this year, valuing it at around $21 billion. The company has in recent years sold some assets to raise cash and streamline its global portfolio. Those disposals include the sale of a Chilean electricity network operator to State Grid Corp. of China for about $3 billion. A representative for Naturgy declined to comment. GPG, as the unit is known, has more than 4 gigawatt installed capacity in about eight countries,
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News
- 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
- Abu Dhabi's Taqa Holds Talks With Naturgy Holders About Deal [Financial Post (Toronto, Ontario, Canada)]Financial Post