The Australian IFM Fund fails in its OPA to Naturgy by getting 10.8% of actions

The IFM Australian Fund has not been able to comply with its aspirations at the OPA launched on Naturgy and has only been done with 10.8% of the energy company,

The Australian IFM Fund fails in its OPA to Naturgy by getting 10.8% of actions

The IFM Australian Fund has not been able to comply with its aspirations at the OPA launched on Naturgy and has only been done with 10.8% of the energy company, a figure below its minimum aspiration of 17%. However, the firm has communicated to the CNMV that renounces the condition of self-imposed acceptance and will enter the capital of the group.

IFM has not been able to sell half of the actions to which he aspired at the beginning of the process, since acceptance has been limited to 47%. Not reaching 17% supposes a blow to the group, since this figure gave two armchairs in the Council and a certain influence on management.

The reality is that the price of 22.07 euros offered by the company has been short in the eyes of the market. Just a few days after the period of acceptance ended, the group's titles outweigh the value of 23 euros. That is, any investor who wanted to sell his actions would have interested him today that within the OPA.

The company has narrowly exceeded the 10% threshold to which the financing of the operation was linked. Fonts near the group had insisted on the last weeks that this reference was simply technical, since its real aspiration was to be done between 17% and 22% of Naturgy.

The CNMV has suspended "cautiously, with immediate effects", the negotiation of the actions of Naturgy in the Spanish stock exchanges and the company's governing company of derivative products, due to the dissemination of the outcome of the partial IFM OPA.

Updated Date: 15 October 2021, 02:23

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