Galp Gas Natural Distribuicao, S.A. Acquisition (6043F)

TIDM46MR

RNS Number : 6043F

Galp Gas Natural Distribuicao, S.A.

15 July 2019

Galp Gás Natural Distribuição, S.A. has completed the acquisition of 58.03% of Tagusgás, S.A.

Following the transaction informed on April 26, Galp Gás Natural Distribuição, S.A. ("GGND") has completed with GÁSRIBA, S.A. the acquisition of its 58.03% stake in the share capital of TAGUSGÁS - EMPRESA DE GÁS DO VALE DO TEJO, S.A. ("TAGUSGÁS"), for an amount of c. EUR32 million.

The transaction was cleared by the Portuguese Government, as Grantor under the Concession Agreement of 2008, after the non-opposition evaluation by the Portuguese Competition Authority and ERSE - Energy Services Regulatory Authority.

GGND is the leading natural gas distributor in Portugal, with a regulated asset base ("RAB") of c. EUR1 billion and c. 1,450 million cubic metres (m(3) ) of natural gas distributed each year through the ownership of eight of the eleven natural gas distribution companies in Portugal.

After the closing of the acquisition, GGND holds 99.36% of the share capital of TAGUSGÁS, which mainly operates the natural gas distribution concession in the Santarém and Portalegre regions, with a RAB of c. EUR82 million and c. 122 million m(3) of natural gas distributed each year.

Millennium Investment Banking acted as financial advisor to GGND on this transaction.

 
 Galp Gás Natural      Contacts:            Website: www.galpgasnaturaldistribuicao.pt 
  Distribuição,    Tel: +351 218        Email: ir@ggnd.pt 
  S.A.                       655 379 
  Investor Relations         Fax: +351 210 
                             039 370 
 
                             Address: 
                             Rua Tomás 
                             da Fonseca, Torre 
                             C 
                             1600-209 Lisbon, 
                             Portugal

This announcement may include forward-looking statements. Forward-looking statements are statements other than in respect of historical facts and accordingly actual events or results may differ materially from those expressed or implied by such forward-looking statements. Important factors that may cause actual results to differ from forward-looking statements are referred in the Annual Accounts Report of Galp Gás Natural Distribuição, SA. for the year ended 31 December 2018. Galp Gás Natural Distribuição, SA. does not intend to, and expressly disclaims any duty, undertaking or obligation to, make or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this announcement to reflect any change in events, conditions or circumstances.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

ACQCKPDBOBKDAOD

(END) Dow Jones Newswires

July 15, 2019 13:28 ET (17:28 GMT)

Floene 1.375% (LSE:46MR)
Historical Stock Chart
From Oct 2024 to Oct 2024