IFM offers €5B for stake in utility company Naturgy
January 28, 2021
Australia's IFM Investors has offered to buy a 22.69% stake in Madrid-listed utility company Naturgy for €5.06 billion via its IFM Global Infrastructure Fund. IFM is offering to buy 220 million shares at €23 apiece, representing a 19.7% premium over the company's closing price Monday. Naturgy's gas and electric portfolio spans over 20 countries, and it also has a renewables portfolio comprising 4.6GW total capacity of wind, solar and hydroelectric energy.