Gas Nat to sell non-core, raise capital for Fenosa
MADRID, July 30 (Reuters) - Gas Natural (GAS.MC: Quote, Profile, Research) said Wednesday it plans to sell over 3 billion euros ($4.68 billion) of non-core assets and make a capital hike for 3.5 billion to fund its buy of ACS (ACS.MC: Quote, Profile, Research) stake in Union Fenosa (UNF.MC: Quote, Profile, Research)
It said core shareholders Repsol (REP.MC: Quote, Profile, Research) and Criteria (CRIT.MC: Quote, Profile, Research), the holding company of La Caixa, will subscribe to the capital hike.
The acquisition will allow Gas Natural to meet the targets in its 2008-2012 strategic plan in 2009, the gas company said.
(Reporting by Judy MacInnes; Editing by Ben Harding)
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