The National Securities Market Commission has authorized the partial bid launched by the Australian fund IFM on 22.69% of the energy company Naturgy.

The government had authorized the operation with conditions on August 3.

IFM has accepted all the conditions required by the Council of Ministers, which asked to keep the job, the headquarters and some "prudent" dividends.

The offeror, highlights the CNMV in a statement collected by

Efe

, "has accepted all the conditions required by the Council of Ministers, as stated in the brochure."

The offer is aimed at a maximum of 220 million shares, which represents almost 27% of the company's capital.

If the acceptance exceeds the maximum, the apportionment rules of article 38.1 of the Royal Decree on takeover bids will be applied.

The price of this takeover is 22.07 euros per share, after adjusting with respect to the 23 euros that were initially offered.

This adjustment was made as a result of the dividends paid by Naturgy on March 17 and August 4 for a gross amount of 0.63 euros and 0.30 euros per share, respectively.

The offer is made after the bidder's agreements with the shareholders of Naturgy CVC and GIP - holders of 20.72% and 20.64% of the capital - not to accept the offer, according to

Europa Press

.

It is voluntary and partial and its price is subject to compliance with the requirements of article 137.2 of the consolidated text of the Securities Market Law.

The effectiveness of this offer is conditional on the acceptance of 17% of the capital, which represents a minimum of 164,834,347 shares.

As a guarantee of the operation, 17 guarantees have been presented for a total of 4,921.4 million euros, granted by 15 financial entities and the acceptance period is established in 30 calendar days from the trading day following the publication of the first announcement with the essential data of the offer.

According to the criteria of The Trust Project

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