Gas Natural Fenosa launches distribution network sale with EUR 3bn price tag - report (translated)
13 JUN 2017
Gas Natural Fenosa [BME:GAS] (GNF) has launched the sale of its gas distribution network in Spain priced at more than EUR 3bn, Expansion reported citing financial sources. According to the Spanish-language business paper, JPMorgan and Morgan Stanley have the mandate to sell a 25% stake of the business.
GNF declined to comment, the paper said. Last May CEO Rafael Villaseca acknowledged that the group was considering options for the network, but said not decision had been taken.
The business may be spun off and its capital open to a new partner that will acquire a significant stake but not a majority, Expansion said.
Potential suitors include Borealis and Allianz, according to the report.
GNF declined to comment, the paper said. Last May CEO Rafael Villaseca acknowledged that the group was considering options for the network, but said not decision had been taken.
The business may be spun off and its capital open to a new partner that will acquire a significant stake but not a majority, Expansion said.
Potential suitors include Borealis and Allianz, according to the report.