FACTBOX: Gas Natural to take over Union Fenosa
(Reuters) - Spanish utility Gas Natural (GAS.MC) has agreed to buy a 45 percent stake in rival Union Fenosa (UNF.MC) from debt-laden builder ACS (ACS.MC) in a deal worth 7.6 billion euros, the companies said on Wednesday.
If the energy watchdog approves the deal, Gas Natural will then have to make a full cash bid for Fenosa to comply with Spanish securities regulations.
The move comes after months of speculation over consolidation to create a domestic energy champion capable of fending off foreign predators.
For a full story on the deal, double click on nL0183030.
Following are details of the two companies' financial data, shareholders and business activities (amounts in euros):
FENOSA GAS NATURAL
Market Capitalisation* 14.570 bln 14.777 bln
2007 Revenue 6.011 bln 10.093 bln
2007 net profit 986 million 959 million
2007 EBITDA 2.062 bln 2.277 bln
2007 Debt/EBITDA 2.8 times 1.5 times
* Based on July 29 market prices. Fenosa's market capitalisation has risen almost 44 percent since July 17, the day before ACS said it was mulling a sale of its Fenosa stake.
KEY SHAREHOLDERS
FENOSA
ACS 45.306 pct
CAM 5.29 pct Continued...
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