Repsol SA has reached an agreement to sell its 20 percent stake in Gas Natural to CVC Capital Partners for €3.82 billion ($4.7 billion).
The deal is subject to a shareholder’s agreement between CVC and Gas Natural’s other two big shareholders — CriteriaCaixa and Global Infrastructure Partners (GIP).
Under the terms of the deal, CVC will appoint three members to the board, replacing the Repsol-designated members.
Once this transaction is completed, Gas Natural’s biggest shareholders will be CriteriaCaixa, with a 24 percent stake, and CVC and GIP, each with 20 percent interests.
