Naturgy Shares Restored to Trading After Taqa Confirms Takeover Plan
By Anthony O. Goriainoff
Shares of Naturgy Energy Group were restored to trading by Spain's stock market regulator after Abu Dhabi-listed energy and water company Taqa confirmed it is considering an offer for the Spanish gas utility.
Taqa said it was in talks with Criteria Caixa over a possible partnership for Naturgy, and with CVC Capital Partners and GIP III Canary 1 to buy their shares in Naturgy, with a view to making an offer for the company.
It cautioned that there is no certainty any agreements will be struck and said that no approach has been made to Naturgy yet.
Shares in Naturgy at 0955 GMT were up 5.8% at EUR22.76. However, they are currently down 16% in the year to date.
Criteria Caixa--which has a 26.7% stake in Naturgy--confirmed late Tuesday that it was in preliminary talks with a potential group of investors and that Naturgy wasn't a part of the negotiations.
CVC has a 20.4% stake in Naturgy, and GIP has a 20% stake.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
April 17, 2024 06:26 ET (10:26 GMT)
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