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    NTGY   ES0116870314

NATURGY ENERGY GROUP, S.A.

(NTGY)
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Naturgy Energy S A : closes the sale of its Chilean electricity network business following the successful completion of the tender offer launched by State Grid

07/27/2021 | 04:40am EDT
Naturgy closes the sale of its Chilean electricity network business following the successful completion of the tender offer launched by State Grid
  • The company receives proceeds of approximately €2,600 million euros following the completion of the 96.04% disposal of the Compañía General de Electricidad (CGE) in Chile to the state-owned Chinese company State Grid International Development Limited (SGI).


Naturgy has concluded the sale of its electricity network business in Chile to the state company State Grid International Development Limited (SGI), following the successful completion of the tender offer launched by State Grid, as a necessary and final step to complete the transaction.

In mid-November 2020, both companies announced an agreement for the sale of Naturgy's 96.04% stake in the Compañía General de Electricidad (CGE). During these months, the transaction has obtained the relevant regulatory approvals, as well as the necessary authorizations from the competition supervisory bodies in Chile, prior to the launch of the tender offer by SGI at the end of June 2021.

'The closing of this transaction allows us to crystallize value, as well as to strengthen our balance sheet allowing us to be more ambitious in our commitment to renewables growth and better positioned to face the challenges of the sector and the energy transition', explained the Executive Chairman of Naturgy, Francisco Reynés.

Following completion of the tender offer, the transaction is concluded and Naturgy finalizes the sale of its Chilean electricity network business. The transaction values 100% of CGE's equity at more than 2,700 million euros.

Madrid, July 26th, 2021

Disclaimer

Naturgy Energy Group SA published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 08:39:05 UTC.


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Sales 2021 17 633 M 20 666 M 20 666 M
Net income 2021 1 285 M 1 507 M 1 507 M
Net Debt 2021 11 944 M 13 998 M 13 998 M
P/E ratio 2021 16,2x
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Nbr of Employees 8 552
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Francisco Miguel ReynÚs Massanet Chairman & Chief Executive Officer
Carlos Ayuso Salinas Director-Internal Audit, Compliance & Control
Ramˇn Adell Ramˇn Independent Director
Francisco Belil Creixell Independent Director
Helena Herrero Starkie Independent Director
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