Naturgy shareholders meeting on March 28 to be renewed for four years Francisco Reynes (Palma de Mallorca, 1963) as president and CEO of the company. Reynés is the first executive of Ibex 35’s major companies to amass the most power, holding both positions. The five major shareholders of the energy company, who own 86% of the shares, agree on the renewal of their powers. Under Reynés is a management committee of 10 all men.
Reynés became president of Naturgy on February 6, 2018. Isidro Fainecurrent president Caixa Foundation And criteriais the main shareholder of the company, which owns 26.7% of its capital. Since then, Naturgy’s shares have gained 51%. The group has a stock market value of 26,100 million. In 2022, it hit 33,965 million and earned 1,826.
The current president came from the Abertis infrastructure group, of which he was vice president and CEO; and he was the president Cellnexantique Abertis TelecomHe led the public offering in 2015. Today, Abertis is 50% plus one owned by the Italian family. Benetton through your past Atlantis and the rest hot watercontrolled by florentino perez.
Since his arrival at Naturgy, Reynés has had to deal with the company’s industrial restructuring and shareholding. as a result of the purchase Unity Fenosa with Natural gas, changed its name to Naturgy, refocused on its business and embarked on its special transformation in the energy sector, affected first by the effects of the pandemic and then by the Russian invasion of Ukraine. Géminis, the flagship project that will serve to divide Naturgy in two: segregated regulated businesses – and high-dividends – from others, liberalized and driven higher growth, left fallow. “Geopolitical conditions forced paralysis until a change in context,” company sources said. The operation was also not facilitated by the doubts expressed by the third vice-president of the Government and the Minister of Ecological Transition, Teresa Ribera.
The Naturgy split was the best tool to end Naturgy’s complex shareholder network and clean up its future. Cutback with launch of a takeover bid for Australian fund MFI In the capital, the status quo has been shaken with four other shareholders: funds GIP, Rioja/CVC -where the financial group participates sunrise family property March– Algerian state company sonata and above all Caixa. For this historic shareholder foundation, Naturgy is crucial as a social service dividend provider: 331 million in 2022 and 1,686 in five years.
IFM failed to meet its target of reaching 22%, but has already reached 14% and does not deny its interest in continuing to buy if the market allows. In response, Caixa has increased its stake from 24.8% to the current 26.7%, a position it does not want to increase. During the interruption of the IFM, the search for an industrial white knight to enter the capital was not successful.
IFM’s entry had an unintended effect: a lower ‘free float’ in the stock market (the group has 50,000 minority shareholders) and a sharp drop in the trading volume of its shares, placing Naturgy well below the big Ibex companies. . It ranks 27th among the most traded in the index, with a drop of almost 50% in volume in one year, according to one report. Stock Exchange and Spanish Markets.
Neither the company nor the Exchange considers Naturgy’s presence in Ibex to be currently in jeopardy, unless IFM (or another fund?) decides to continue buying from the market. Waiting to revive the Geminis project in order to reorganize its shareholding status, the company headed by Reynés with all his might, lives in a tense calm in the face of impending threats.