Gas Natural Fenosa could divest in Electricaribe
Gas Natural Fenosa contempla desinvertir en Electricaribe
Intel ID : 245131
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Gas Natural Fenosa (BME:GAS), a Spain-based natural gas marketing company, would be through dialogue with the government of Colombia in order to divest in Electricaribe, a Colombia-based distributor of energy in the Caribbean Coast, reported El Economista on 9 February 2017, citing Gas Natural Fenosa CEO Rafael Villaseca. Specifically the company discarded of its consolidation project its subsidiary Electricaribe, following the intervention of the Colombian Government in November 2016 by an obligation of accounting having lost the stake over Electricaribe since they have a debt that could exceed the EUR 4,2m. Gas Natural Fenosa give a valuation of the asset of EUR 475m, but Villaseca noted that the asset could be worth much more, which does not rule out the option of going to the courts of arbitration.
(content in spanish)
Gas Natural Fenosa (BME: GAS), empresa española dedicada a la comercialización de gas natural, estaría dialogando con el gobierno de Colombia con el objetivo de desinvertir en Electricaribe, empresa colombiana de distribución de energía en la Costa Caribe, según ha informado El Economista el 9 de febrero de 2017, citando al CEO de Gas Natural Fenosa, Rafael Villaseca. En concreto, la compañía ha descartado de su proyecto de consolidación a su filial Electricaribe, tras la intervención del gobierno colombiano en noviembre de 2016 por una obligación contable al haber perdido el control sobre Electricaribe debido a que poseen una deuda que pudiera superar los EUR 4,2m. Gas Natural Fenosa ha dado una valoración a dicho activo de EUR 475m, pero Villaseca ha aclarado que el activo podría valer mucho más, con lo cual no descartaría la opción de acudir a los tribunales de arbitraje. |
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20.03.05 Electric Utilities 20 Energy & Utilities / 20.03 Power Generation & Electric Utilities |
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20.03.05 Electric Utilities 20 Energy & Utilities / 20.03 Power Generation & Electric Utilities |
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20.02.03 Natural Gas & Hydrogen Utilities 20 Energy & Utilities / 20.02 Oil, Gas & Consumable Fuels 20.04.04 Hydro Power 20 Energy & Utilities / 20.04 Renewable Energy 20.04.08 Solar Power 20 Energy & Utilities / 20.04 Renewable Energy 20.04.09 Wind Power 20 Energy & Utilities / 20.04 Renewable Energy |
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.
Transactional data is continuously updated by the research team and therefore is subject to change.