Repsol and Criteria Caixa to sell Gas Natural assets

Spain

MADRID, September 13, 2016 – Spain’s Repsol and Criteria Caixa, the holding that owns Caixabank, agreed to a EUR 3.8 billion deal to each sell a 10% stake in Gas Natural to USA’s Global Infrastructure Partners (GIP), the duo announced on Monday.

GIP is to pay EUR 19 per share for a 20% stake in Gas Natural, whose Monday closing price was EUR 18.51. Repsol and Caixabank will retain stakes of 20% and 24%, respectively.

Repsol and Criteria added they would make a capital gain of EUR 246 million and EUR 218 million from the deal, respectively. The transaction is expected to close by the end of September.

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