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    Gas Natural Completes Nedgia Stake Sale

Summary

Spanish utility Gas Natural has confirmed its completion of a partial sale of its gas distribution business..

by: Mark Smedley

Posted in:

Natural Gas News, Europe, Corporate, Mergers & Acquisitions, News By Country, Spain

Gas Natural Completes Nedgia Stake Sale

Spanish utility Gas Natural confirmed March 19 that it has completed the sale of a 20% interest in its gas distribution business Nedgia.

Gas Natural announced August 2017 it would sell the 20% stake for €1.5bn ($1.84bn) to two funds. Germany's Allianz and Canada Pension Plan Investment Board  (CPPIB) have now spent €600mn and €900mn respectively on the acquisition. 

Gas Natural will retain an 80% Nedgia interest. It announced the name of Nedgia for its distribution business two months ago.