The Spanish government has approved the offer by IFM Global Infrastructure Fund (IFM GIF) to acquire a 22.689 percent stake in Spanish utility Naturgy Energy Group, according to various news reports.
The offer was filed in January for up to 220 million of Naturgy shares for an initial price of €23.00 ($27.26) per share, according to Renewables Now. The offer was adjusted this week to €22.07 ($26.15).
The bid will now move to Spanish market regulator CNMV for approval. If that passes and the deal goes through, IFM GIF will be expected to support Naturgy’s investment in projects that contribute to the energy transition in Spain.
