GASNF Naturgy Energy Group SA (PK)

   By Alberto Delclaux 
 

Rioja Bidco Shareholdings, which in February agreed to buy Repsol SA's (REP.MC) 20% stake in Gas Natural SDG SA (GAS.MC), is dropping one of the conditions it had set as part of the deal, Repsol said Friday.

In a regulatory filing, Repsol said Rioja Bidco dropped the condition of reaching a shareholders' agreement with Gas Natural's two other big investors prior to completing the transaction. The deal had been conditional on Rioja Bidco--which is controlled by CVC Capital Partners Ltd. and Corporacion Financiera Alba--reaching the agreement by March 22, a deadline which has now passed.

Gas Natural's two other major shareholders are Criteria Caixa, which owns 24% of the utility, and Global Infrastructure Partners LLC, which holds a 20% stake.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

March 23, 2018 07:15 ET (11:15 GMT)

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