Compañía Española de Petróleos, S.A.U. and Sonatrach SPA completed the acquisition of an additional 32% stake in Medgaz, S.A. from Endesa Generacion, S.a. and Iberdrola Generación, S.a.u.
As of June 21, 2013, Compañía Española de Petróleos, S.A.U. completed the acquisition of 9.4% stake in Medgaz, S.A. from Iberdrola Generación, S.a.u. for 67.6 million. Santander Central Hispano Investment SA acted as financial advisor to Endesa, BNP Paribas and Morgan Stanley acted as financial advisor to Iberdrola. Citi acted as financial advisor and Fernando de las Cuevas, Iñigo Igartua, Evelyne Ameye and Luis Gil of Gómez-Acebo & Pombo acted as legal advisors to Sonatrach SPA. Cuatrecasas, Gonçalves Pereira, S.L.P. acted as legal advisor to Medgaz.
Compañía Española de Petróleos, S.A.U. and Sonatrach SPA completed the acquisition of an additional 32% stake in Medgaz, S.A. from Endesa Generacion, S.a. and Iberdrola Generación, S.a.u. on June 28, 2013. The deal value amounts to 83.8 million, after the usual adjustments in this type of transactions and includes the assignment to the buyers of the debt that Endesa Generación has to Medgaz, in the form of a loan for 8.2 million. The buyers released Endesa of its guarantees to the European Investment Bank by virtue of a loan granted by this institution to Medgaz, and that was supported by Endesa in an amount of 93.7 million.