IFM Global Infrastructure Fund Buys $2.7 Billion Stake in Naturgy

By Cristina Roca

IFM Global Infrastructure Fund has bought a 10.83% stake in Spanish utility company Naturgy Energy Group SA, Spain's markets regulator said Thursday.

The Australian fund had originally launched a partial takeover bid for 22.69% of Naturgy's share capital via its investment vehicle Global Infraco O (2) Sarl at EUR22.07 a share.

CNMV, Spain's regulator, said the bidder dropped a 17% minimum acceptance threshold, and that the offer was accepted for 105,021,887 shares, worth 2.32 billion euros ($2.69 billion) based on the offer price.

Shares in Naturgy were suspended shortly before the announcement and will resume trading at 1300 GMT.

Write to Cristina Roca at [e-mail]

(END) Dow Jones Newswires

10-14-21 0855ET