Santander Corporate & Investment | S&P has put Naturgy Energy Group (Baa2e, BBB*-, BBBe) on credit watch negative. The decision comes in the wake of Naturgy’s announcement on February 10 that it will split into two groups (NetworksCo and MarketsCo). The ratings agency considers that this third strategy change by Naturgy in 18 months indicates that “the governance is inferior to the average and that the company is totally focused…

Naturgy will face the energy transition divided into two companies which will be listed on the stock exchange. The Géminis project, as the company headed by Francisco Reynés has announced, has been approved by the entire board. This includes the new representative of the Australian fund IFM, who has just joined the company. The regulated distribution infrastructure business will be integrated within one of the companies, while the other will…

The energy company, which on 15 September will pay a second dividend of 0.40 euros per share, offers electricity at 66 euros/MWh to its customers for three years.

Link Securities | The Ministry of Ecological Transition has left the control of Medgaz in the hands of Sonatrach (51%) and Naturgy and Blackrock (49%). The submarine pipeline is the main entry point of natural gas into Spain until 2031. On July 5th, the fourth vice-president and Minister for Ecological Transition, Teresa Ribera, agreed to grant an exemption to the holders of the pipeline which frees them from the obligation…

IFM’s takeover bid for 22.7% of the capital of Naturgy (NTGY) at a price of 22.07 euros/share ended Thursday, with a level of acceptance of 10.83%. Far below the aspirations of the Australian fund. Naturgy shares rose on Thursday by 4.62% to 24.01 euros/share (a high of 24.87 euros/share) and closed on Friday at 23.25 euros/share. Today, Monday, it is still trading at 23 euros per share. Analysts suspect that…

Naturgy (NTGY) has reached an historic agreement with the Algerian company to expand the capacity of the Medgaz pipeline that supplies natural gas to Spain. The agreement provides for a 2 bcm (2,000 million cubic metres) per year increase in the pipeline’s capacity, 25% more, to over 10 bcm/year from the fourth quarter of this year. Once the extension is operational, 25% of Spanish natural gas consumption will pass through…

CriteriaCaixa, which with 24.8% of the capital is the main shareholder of Naturgy, the third Spanish energy company, not only will not go to the offer of the Australian IFM, already completely out of price, but has also reaffirmed its willingness to reach the limit of 30% prior to the forced launch of a takeover bid (OPA).