By Pietro Lombardi 
 

Naturgy Energy Group SA has sold its Kenyan business Iberafrica to AP Moller Capital in a deal valued $62 million.

The deal, which includes debt, isn't expected to generate any significant capital gain, the Spanish utility said Monday.

Until now, the Kenyan company had been controlled by Global Power Generation, in which the Spanish company had a 75% stake and sovereign fund Kuwait Investment Authority the remaining 25%.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

April 06, 2020 05:30 ET (09:30 GMT)