Repsol and La Caixa negotiate the sale of 20% of Natural Gas to GIP and other funds for over US $ 4,000 million – Financial Journal

Expansion, Spain.

Repsol and La Caixa held advanced negotiations with Global Infrastructure Partners (GIP) and other funds for the sale of up to 20% of Natural Gas .

Its capitalization stands at nearly US $ 22,293 million, bringing the transaction would be valued at about US $ 4,458 million.

Of the 20% of Natural Gas that is passed a 10% would Repsol and another 10% of Criteria, the subsidiary of La Caixa which controls most business units.

Repsol, with 30% of Natural Gas, and La Caixa group with 35%, maintained a pact control of the gas subject to certain conditions. Among them, that neither fall below 15% each, or between 50% continue to maintain. Since this operation some clauses would be broken, the syndication agreement would have to be reformulated.

Negotiations with GIP are advanced, industry sources say, and could be closed before the end of the year. GIP is known in Chile for having 49% of Central Guacolda

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