In recent news, TAQA, an Emirati energy group with operations in various countries, has taken a step forward in its intentions to acquire Spanish gas company Naturgy. Following a suspension of trading for more than two hours by the National Securities Market Commission (CNMV), TAQA has confirmed that it is holding conversations with CriteriaCaixa and two other entities regarding a possible acquisition of shares in Naturgy.
If the acquisition were to occur, a public takeover offer for the entire capital would need to be made as both funds (CVC and GIP) have more than 20% of the shares respectively, exceeding the 30% limit set by law to launch a takeover bid. However, TAQA has 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 to Naturgy by TAQA.
The CNMV had 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 the CNMV, leading to an increase in Naturgy shares.
TAQA is listed on the stock exchange for 19 years and has operations in various countries including Spain. The potential acquisition of Naturgy by TAQA has raised questions about the future of the company and its shareholders. The negotiations between the parties involved are ongoing, and the outcome remains uncertain.
Regulatory bodies such as CNMV and CNMC will have to review the transaction, and government approval may be needed for the operation. The liquidity of Naturgy’s shares, coupled with market conditions, has influenced the negotiations between the parties involved. The future of Naturgy and its shareholders will depend on the outcome of talks and regulatory approvals.
In conclusion, while TAQA’s intentions to acquire Spanish gas company Naturgy have progressed further than previously reported, it is still unclear whether any acquisition will occur. Regulatory bodies are closely monitoring