Ecological Transformation Warns That Nature Will Pay Close Attention To Opa Because Of Its Strategic Significance

2021-01-28   |   by CusiGO

Before making the ruling, the government will analyze the Australian Monetary Fund’s acquisition of nature very carefully. The tender must be submitted commercially, with all the details and objectives, and it will be for the sector, especially the ecological transformation sector, to consider whether it is worthy of authorization. “We will be very concerned and vigilant, because naturgy is a very relevant company in the Spanish energy system, especially in Spain Government sources said it was a regulated activity.

The move into naturki, announced on Tuesday, must be approved by the Council of ministers before it can continue, because it exceeds the 10% ceiling considered by the executive and was set up at the time of the pandemic to prevent unnecessary capital inflows into key enterprises. But first, it has to be analyzed by the relevant ministries, mainly the Ministry of industry and trade, because it is an international transaction and must be applied to; the Ministry of ecological transition, led by the fourth vice president Teresa Ribera, has a lot to do in dealing with this issue. Energy market.

“Nature is a related company in the energy sector, engaged in regulated activities and has a monopoly in the field of power distribution. He is an important and key operator in the Spanish system, so we have to pay close attention to the development of the business when fulfilling our public service obligations, “sources near Moncloa warned, adding that ministries have not been informed, so they are unable to express their views.

In this regard, Unidos Pueblo, PSOE’s Government partner, took a position on the same Tuesday as the offer, saying that “the priority of a foreign fund is not the general interest.”. To be exact, if the microfinance institution succeeds in acquiring 22.69% of nature’s shares, it will hold them together with another 41%, namely GIP and CVC funds.

In any case, it is not surprising that this is an action in the volatile energy sector, which has been asked to be one of the most active players in the economic recovery process in continental Europe and Spain, where the Spanish government launched the recovery, transformation and recovery plan. The validity of the offer should also be authorized by the National Securities Market Commission (cnmv) and the national market and Competition Commission (CNMC).

Compared with the previous day, nature’s offer was very moderate. Compared with the increase of more than 15% on Tuesday, Wednesday’s increase was 0.72% to 22.35 euros per share, still lower than the 23 euros provided by MFI Global Infrastructure Fund for 220 million shares, accounting for 22.69% of the equity of Spanish energy company. This will involve an expenditure of 5.06 billion euros. Microfinance institutions are targeting institutional investors and minority shareholders in naturgi, rather than Rioja Fund (composed of CVC and Alba Financial Corporation de Banka March) and GIP, which account for 20.7% and 20.4% respectively, or criteria (24.8%) as the major shareholder, which ensures that there is no agreement with Australian funds.

At the same time, analysts are considering buying money and financial institutions. In this regard, BofA stressed the attractiveness of nature and raised the target price of 23 euros per share for MFIs from 29.3% to 28.7 euros. In a report released yesterday, the agency argued that after a tough 2020, microfinance institutions’ proposals could even “prompt investors to reassess” their position in the energy sector.

Bank of America believes that naturgy has $5bn of capacity on its balance sheet following the sale of Chile’s grid business and an exit deal with Eni, highlighting the group’s recent landing in renewable energy in the US. However, he pointed out that the offer of MFIs may further reduce naturgi’s free flow (free capital), which is still 9%.