The CEO of Italgas Paolo Gallo has said it is interested in acquiring Gas Natural’s distribution business in Italy. This operation would reflect the consolidation trend expected in the Italian gas market, allowing Italgas to raise its domestic market to 40% from the current 30%.
Gas Natural selling
MADRID | By Julia Pastor | Spanish oil company Repsol could sell two block of shares reaching 10% to sovereign funds. The presence of this kind of investors in Spain is not new, much less in strategy sectors such as energy, but the point is that corporate managing teams have allowed those to enter their capital and look under the rug. Furthermore, sovereign funds’ investments criteria such as will of permanence, long term view and sustainability are always good news for a firm. Singapore’s Temasek fund already holds 5% of Repsol, while Qatar’s has also participation in other national energy companies. Therefore, both would have more options to be those packages’ next owners.