TAQA Makes Progress in Acquisition of Naturgy, but Uncertainty Remains

After a two-hour suspension of Naturgy’s trading by the National Securities Market Commission (CNMV), TAQA has made significant progress in its plans to acquire the Spanish gas company. In a statement sent to the regulatory body, TAQA confirmed that it is in discussions with CriteriaCaixa and two other entities regarding a possible acquisition of shares in Naturgy. If an agreement is reached, a public takeover offer for the entire capital would be necessary, as both funds (CVC and GIP) hold more than 20% of the shares respectively, exceeding the 30% limit set by law for launching a takeover bid.

In response to speculation published in the media about Naturgy, TAQA clarified that no agreement has been reached with Criteria or GIP, and there is no guarantee that any operation will be implemented. There has been no approach to Naturgy by TAQA. The CNMV suspended trading of Naturgy shares after information about a potential takeover bid by TAQA and negotiations between the main shareholder funds and the potential buyer were made public. The suspension was lifted after TAQA communicated with the CNMV, resulting in an increase in Naturgy shares.

TAQA is an energy group with operations in various countries, including Spain, and has been listed on the stock exchange for 19 years. The possibility of acquiring Naturgy by TAQA has sparked questions about the future of the company and its shareholders. Negotiations between the parties involved are ongoing, but their outcome remains uncertain.

The potential takeover bid for Naturgy has prompted regulatory bodies to evaluate its implications. The CNMV and CNMC must review the transaction, and government approval may be required for its implementation. The liquidity of Naturgy’s shares and market conditions have influenced negotiations between TAQA and other parties involved in acquiring them.

The future of Naturgy and its shareholders will depend on how these negotiations proceed and whether regulatory approvals are granted. If an agreement is reached between TAQA and other parties involved in acquiring Naturaly, it could lead to significant changes in ownership structure and management leadership.

Overall, this situation highlights how important it is for companies to disclose all relevant information when making major acquisitions or changes in ownership structure. It also underscores how regulators play a critical role in ensuring that such transactions are conducted transparently and fairly.

As we continue to monitor this situation closely, it will be interesting to see how everything unfolds over time. Only time will tell if TAQ