Australian Fund IFM According to the energy company’s financial report for the first half of the year, Naturgy has continued to rise in capital and already has an almost 14% stake in the company.
Specifically, at the end of June, IFM’s position in Naturgy’s equity reached 13.9% and consolidated itself as its own equity. fourth largest shareholder. This participation has a value of approximately 3,900 million Euros at current market prices.
IFM’s last major move in Naturgy’s shareholding became known at the end of last March when the fund increased its participation by approximately 1.3%. It reached 13.38%.
IFM launched in January 2021 partial takeover offer joined Naturgy to buy 22% of the company’s capital. The proposal responded with CriteriaCaixa’s decision to strengthen its stake in Naturgy, with the target of increasing market participation to the current 26.7% and reaching 30% through various acquisitions. Finally, acceptance of IFM’s partial takeover offer remained at 10.83% of the capital.
Since then, the Australian fund has made several share purchases. increase your weightin addition to using their administrator assignment rights.
Thus, he joined Naturgy’s board of directors last February. James Siles He served as the IFM representative within the scope of the restructuring of the energy company’s board of directors.
criteria, retention caixacontinues to be the main shareholder of Naturgy with a share of 26.7%, followed by CVC (20.7%) and GIP (20.6%). The Algerian state-owned company is the group’s fifth shareholder with a 4.1% stake.
Gemini Project
before last February russian invasion of ukraine, Naturgy has announced its plan to split into two companies, one that will bring together the regulated assets of the company (NetworksCo) and the other the freelance business (MarketsCo), known as the ‘Gemini project’.
Initially, Road map The company was supposed to shut down the operation this year, but on the occasion of the group’s general meeting last March, Naturgy president Francisco Reynés has already stated that the decision on the timing of the operation is up. market conditions and factors such as regulatory visibility, ratings, and administrative clearances and permits.
In this context, its financial report Naturgy states that from the first semester it continues to monitor the progress of all analyzes of the project and “confirms its relevance and strategic meaning thus far”.
However, it highlights the current volatility of the markets, the evolution of the European energy situation and multiple regulatory uncertainties that still remain to be fully known. “They recommend adapting the executive calendar to the evolution of events.”