Gas Natural Reshuffles Board of Directors After Repsol Exit
May 18 2018 - 7:40AM
Dow Jones News
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)
Copyright (c) 2018 Dow Jones & Company, Inc.
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