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)
© Thomson Reuters 2009 All rights reserved
Pledge to support economies
G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured. Full Article | Related Story
Galleon case
U.S. insider trading probe widens
Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal. Full Article
India
US
UK
