Criteria Caixa, SAU (CriteriaCaixa) will remain the largest shareholder in Natural SDG, SA (Gas Natural), with a holding of 24.4%, and is entitled to appoint 4 members of the Board of Directors.
CriteriaCaixa will make a consolidated gain of EUR 218 million from its sale of 10% of Gas Natural.
CriteriaCaixa and Repsol, SA (Repsol) today agreed to sell 20% of the share capital of Gas Natural to Global Infrastructure Partners (GIP), for EUR 3,802 million. CriteriaCaixa and Repsol will each sell GIP 100,068,934 Gas Natural shares (10% of its share capital) for EUR 1,901 million, or EUR 19 per share.
As a result, CriteriaCaixa will remain the largest shareholder in Gas Natural, with a holding of 24.4%, retaining significant influence over the company. CriteriaCaixa will make a consolidated gain of EUR 218 million from the sale of this 10% stake.
Isidro Fainé, chairman of CriteriaCaixa, said that he is happy with the continuing investment in the Gas Natural project, one of the historic investments of Group “la Caixa” and Repsol, which has successfully weathered the many changes in the energy sector, both nationally and internationally. He welcomed the entry of GIP as a shareholder in Gas Natural, which he considers a valuable reinforcement for the future challenges awaiting this long-established company.
Furthermore, once the sale of the 10% holding in Gas Natural is complete, the CriteriaCaixa Group’s regulatory capital ratios will also improve significantly (an increase of 165 b.p. in regulatory CET1 capital).