Gas Natural Reshuffles Board of Directors After Repsol Exit

   By Alberto Delclaux

Spain's Gas Natural SDG SA (GAS.MC) said Friday that it has appointed five new directors to its board after Repsol SA (REP.MC) completed its 20% stake sale to Rioja Bidco.

Representing Rioja Bidco, the utility said it has appointed Javier de Jaime, Jose Antonio Torre de Silva and Juan Arbide to the board. The company has also appointed Francisco Belil and Ramon Adell, it said.

The members departing are three Repsol appointees, as well as independent director and former Spanish minister Cristina Garmendia.

Repsol struck a deal in February to sell its 20% stake for 3.82 billion euros ($4.51 billion) to Rioja Bidco, which is controlled by CVC Capital Partners Ltd. and Grupo March. The other two big shareholders at Gas Natural are banking foundation La Caixa--which holds a 24% stake and controls three board seats--and Global Infrastructure Partners LLC, with a 20% stake and three seats.

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

(END) Dow Jones Newswires

May 18, 2018 07:25 ET (11:25 GMT)

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