The Australian fund and pension manager IFM has launched a partial takeover bid on Naturgy, as reported by the company to the CNMV early in the morning. The offer, entirely in cash, is aimed at 22.69% of the company, and represents 23 euros per share, and is therefore valued at 5,000 million euros. This price represents a 20% premium over the market price.
The CVC funds (which act in Naturgy through the Rioja vehicle) and GIP have agreed not to sell their shares in the offering, which account for 41.36% of the energy company.
