Naturgy studies buy Cepsa their participation in the gas pipeline that connects Algeria with Spain

Naturgy looks to all the remedies against the cuts of the CNMCNaturgy rules out problems of gas supply from ArgeliaEl crude oil and gas extracted in Spain in a

Naturgy studies buy Cepsa their participation in the gas pipeline that connects Algeria with Spain
Naturgy looks to all the remedies against the cuts of the CNMCNaturgy rules out problems of gas supply from ArgeliaEl crude oil and gas extracted in Spain in a year is consumed in a day and a half

The multinational energy Naturgy is immersed in the final stretch of the negotiations to buy the oil company Cepsa their participation in Medgaz , the gas pipeline of natural gas, which connects Algeria and Spain, according to sources close to the operation.

With the acquisition of the participation of Cepsa, which has 42% of Medgaz, Naturgy aspires to substantially increase its presence in the capital of the pipeline, which is now 15%.

The same sources have pointed to Efe that the operation is "progressing well" and that in a period of three to four months could be closed if the negotiations do not go awry, given the complexity of conversations that are developing on four bands.

In these moments, Naturgy has 15% of the capital of the pipeline, compared to 42% of Cepsa and 43% of the algerian Sonatrach.

In the negotiations involved Naturgy, Sonatrach, a new partner and Cepsa, as he has moved this Monday The leading Edge, which ensures that the company that presides over Francisco Reynés, will not exceed the participation of the algerian , and that the new shareholder would serve to balance the forces between the other two.

Before suspend its ipo, the Cepsa group had valued its participation in Medgaz in around 500 million euros. Sonatrach is also a shareholder of Naturgy, which is 3.85%.

When you close the operation, it will be the first major purchase transaction that takes place Naturgy under the baton of Reynés.

Date Of Update: 16 September 2019, 15:01

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