TAQA in Talks with CriteriaCaixa for Acquisition of Spanish Gas Company Naturgy: Uncertainty and Regulatory Challenges Ahead
TAQA, the Emirati energy group, has taken a step forward in its intentions to acquire the Spanish gas company Naturgy. In a statement sent to the regulator, TAQA confirmed that it is holding conversations with CriteriaCaixa and two other entities regarding a possible acquisition of shares in Naturgy. The acquisition would require a public takeover offer for the entire capital as both funds have more than 20% of the shares respectively, exceeding the 30% limit set by law to launch a takeover bid.
However, TAQA clarified that no agreement has been reached with CriteriaCaixa or GIP and there is no guarantee that any operation will be implemented. There has been no approach made by TAQA to Naturgy either. The National Securities Market Commission (CNMV) suspended trading of Naturgy shares following information about a possible takeover bid by TAQA and negotiations between the main shareholder funds and the potential buyer. The suspension was lifted after TAQA communicated with CNMV, resulting in an increase in Naturgy shares.
TAQA is an energy group with operations across multiple countries, including Spain, and has been listed on the stock exchange for 19 years. The potential acquisition of Naturgy by TAQA has raised questions about its future and those of its shareholders. Regulatory bodies are evaluating the implications of the acquisition, which will require approval from various regulatory bodies such as CNMV and CNMC, along with government approval if needed.
The liquidity of Naturgy’s shares and market conditions are also influencing negotiations between parties involved. The outcome of these talks remains uncertain, but one thing is clear – the future of Naturgy and its shareholders will depend on it.
In summary, while there have been talks between TAQA and other entities regarding a possible acquisition of shares in Naturgy, there is still no certainty about whether this deal will go through or not. Regulatory bodies are reviewing this transaction to ensure compliance with regulations before approving any operation that may affect Spain’s gas industry leader.
The suspension of trading on Naturgy’s stock was caused by rumors circulating about a possible takeover bid from TAQA and negotiations between major shareholder funds like CriteriaCaixa and GIP. However, according to sources close to the matter, nothing official has been agreed upon yet.
Despite this uncertainty surrounding Naturalgas’ future ownership structure, one thing remains clear – investors should continue monitoring developments closely as they unfold over time.
In conclusion, while we don’t know what will happen next in terms of Naturalgas ownership change or mergers & acquisitions activity in Spain’s energy sector, it’s important for investors to stay informed about market trends and regulatory changes that could impact their investments decisions
