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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Naturgy Energy Group, S.A.    NTGY   ES0116870314

NATURGY ENERGY GROUP, S.A.

(NTGY)
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Naturgy, Eni Reach Deal With Egyptian Government to End Joint Venture

12/01/2020 | 10:31am EST

By Joshua Kirby

Naturgy Energy Group SA and Eni SpA said Tuesday that they had reached a new agreement with the Egyptian government to resolve a dispute relating to the companies' joint venture, Union Fenosa Gas.

The agreement entails the end of the joint venture and Naturgy's departure from Egypt. It will also see operations restart at the Damietta liquefaction plant in the first quarter of 2021, Eni said. UFG's 80% participation in the plant will be transferred partly to Eni and partly to the Egyptian Natural Gas Holding Co.

The deal is aligned with a previous agreement that was reached in February but terminated in April due to certain conditions not being met.

UFG is valued by the agreement at a total sum of up to $1.5 billion, including $1.2 billion for its Egyptian assets and $300 million for its assets elsewhere. Naturgy will receive around $600 million in cash payments under the deal, as well as most of UFG's assets outside of Egypt, excluding its commercial operations in Spain, which will be transferred to Eni.

The transaction should go ahead in the first months of 2021 dependent to the usual conditions being met, Naturgy said.

Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby

(END) Dow Jones Newswires

12-01-20 1030ET

Stocks mentioned in the article
ChangeLast1st jan.
ENI S.P.A. -1.45% 8.542 Delayed Quote.1.40%
NATURGY ENERGY GROUP, S.A. -1.00% 19.28 Delayed Quote.2.72%
WTI -1.77% 52.063 Delayed Quote.9.87%
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Financials
Sales 2020 19 827 M 24 130 M 24 130 M
Net income 2020 936 M 1 139 M 1 139 M
Net Debt 2020 15 469 M 18 826 M 18 826 M
P/E ratio 2020 20,3x
Yield 2020 7,47%
Capitalization 18 527 M 22 553 M 22 548 M
EV / Sales 2020 1,71x
EV / Sales 2021 1,53x
Nbr of Employees 10 799
Free-Float 26,9%
Chart NATURGY ENERGY GROUP, S.A.
Duration : Period :
Naturgy Energy Group, S.A. Technical Analysis Chart | NTGY | ES0116870314 | MarketScreener
Technical analysis trends NATURGY ENERGY GROUP, S.A.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 19,91 €
Last Close Price 19,28 €
Spread / Highest target 27,1%
Spread / Average Target 3,29%
Spread / Lowest Target -19,1%
EPS Revisions
Managers and Directors
NameTitle
Francisco Miguel Reynés Massanet Chairman & Chief Executive Officer
Carlos Javier Álvarez Fernández Chief Financial Officer
Ramón Adell Ramón Independent Director
Francisco Belil Creixell Independent Director
Helena Herrero Starkie Independent Director
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