Repsol YPF : The Company announces the agreement with Rioja Bidco Shareholdings, S.L.U., a company controlled by funds advised by CVC, to sell its 20% of Gas Natural SDG, S.A.
February 22, 2018 at 03:42 am EST
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Repsol, S.A.
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C/Méndez Alvaro, 44
+34 917 538 000
28045 Madrid
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repsol.com
Official Notice
Madrid, 22 February 2018
Repsol, S.A. ("Repsol") has today reached an agreement with Rioja Bidco Shareholdings, S.L.U. ("Rioja"), a company controlled by funds advised by CVC, to sell 200,858,658 shares of Gas Natural SDG, S.A. ("Gas Natural"), which amount to, approximately, 20.072% of the share capital of Gas Natural (the "Shares"), for a total consideration of EUR 3,816,314,502, which corresponds to a price of EUR 19 per share. The consolidated capital gain generated for Repsol Group through the transfer of this block amounts to, approximately, EUR 400 million.
Closing of the sale of the Shares is conditional upon the fulfilment of the following conditions:
(i) granting in no more than six months, from the signing of the agreement, of the mandatory authorisations by the competent authorities in Mexico, South Korea, Japan and Germany regarding the concentration transaction that in those market entails the transfer of the Shares;
(ii) the lack of opposition, express or tacit, by the Irish Central Bank regarding the indirect acquisition of a significant stake in the entity Clover Financial & Treasury Services Ltd. in the same period no longer than six months; and
(iii) the execution by Rioja of a shareholders agreement with Criteria Caixa, S.A.U. and GIP III Canary 1 S.à r.l. no later than 22 March, as well as the appointment, no later than the transaction closing date, of 3 people designated by Rioja as members of the board of Gas Natural replacing the three representative that Repsol currently has in the Board of Directors of Gas Natural.
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Repsol SA published this content on 22 February 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 February 2018 08:41:02 UTC.
Original documenthttps://www.repsol.energy/imagenes/global/en/22022018_HR_venta_GNF_en_tcm14-122797.pdf
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Repsol S.A. is one of the largest oil and gas groups in Spain. The activity is organized into four sectors:
- refining and distribution (No. 1 in Spain): 42.1 million tons of crude oil refined in 2022 and 25.5 million tons of oil products sold (kerosene, gasoline, fuel oil, gas liquefied petroleum gas, etc.). At the end of 2022, the group operated 6 refineries located in Spain (5) and Peru and a network of 4,651 service stations located in Spain (3,304), Peru (567), Portugal (515) and Mexico (265). Repsol S.A. also sells lubricants, aviation fuels, bitumen and specialty products (7,261 Kt sold in 2022), liquefied petroleum gas (1,207 Kt sold) and petrochemicals (2.5 Mt of products sold);
- production of electricity and distribution of natural gas: 8,734 Gwh of electricity generated from renewables energy and 1,650 Gwh of gas sold in 2022;
- liquefaction, transportation and regasification of natural gas;
- exploration and production of oil and natural gas: 550,000 barrels of hydrocarbons produced per day in 2022.
Net sales are distributed geographically as follows: Spain (57.9%), Peru (7.2%), the United States (5.7%), Portugal (4.6%), and other (24.6%).
Repsol YPF : The Company announces the agreement with Rioja Bidco Shareholdings, S.L.U., a company controlled by funds advised by CVC, to sell its 20% of Gas Natural SDG, S.A.