TAQA’s Takeover Bid for Naturgy: What it Means for Shareholders and Regulatory Bodies in Spain

The National Securities Market Commission (CNMV) has suspended trading of Naturgy shares for over two hours after information about a possible takeover bid by TAQA and negotiations between the main shareholder funds and the potential buyer emerged. In response to speculation in the press, TAQA clarified that no agreement has been reached with CriteriaCaixa or GIP, and there is no guarantee that any operation will be implemented. The CNMV had suspended trading after receiving information about a possible takeover bid by TAQA and negotiations between the main shareholder funds and the potential buyer.

TAQA is an energy group with operations in various countries, including Spain, and has been listed on the stock exchange for 19 years. If the acquisition were to occur, a public takeover offer for the entire capital would need to be made as both funds (CVC and GIP) have more than 20% of the shares respectively, exceeding the 30% limit set by law to launch a takeover bid. The potential acquisition of Naturgy by TAQA has raised questions about the future of the company and its shareholders.

The negotiations between TAQA, CriteriaCaixa, CVC, and GIP are ongoing, but it is uncertain what their outcome will be. Regulatory bodies such as CNMV and CNMC will review the transaction before granting approval. The liquidity of Naturgy’s shares coupled with market conditions has influenced these negotiations. If approved, this acquisition could have significant implications for both companies involved as well as their shareholders.

In conclusion, while there is currently no agreement on acquiring Naturgy by TAQA or any other entity, regulatory bodies are closely monitoring this situation to ensure compliance with laws governing mergers and acquisitions in Spain. The future of Naturgy remains uncertain as negotiations continue between all parties involved.