March 3, 2021

The Australian fund will have two positions on Naturgy’s board and confirms its management team


Madrid

Updated:

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The Australian pension fund IFM, which today presented a friendly takeover of up to 22.69% of Naturgy, will ask for two seats on the board of directors chaired by Francisco Reynés. In addition, he assures that he has no intention of retouching the energy company equipment.

Sources close to IFM also highlight that their investment in Naturgy is aimed at long-term permanence and that they will contribute to the development of the company’s next strategic plan.

The takeover has been aimed only at minority shareholders, who account for 22.69% of the capital. The rest of the shareholders are: Criteria Caixa (24.8%), the Rioja fund (20.7%), GIP (20.6%) and the Algerian state company Sonatrach (4.1%).

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