Naturgy gets reward for power and renewables pivot
Australian fund manager makes a premium bid based on the firm’s move away from gas, LNG and international expansion
Shares in Spanish utility Naturgy jumped by more than 15pc in a single day in late January after Australia’s IFM declared it intended to make an offer for up to 22.69pc of its share capital. Naturgy’s shares rose by almost €3 ($3.6) from just over €19.20/share to almost €22.20/share on 26 January. IFM’s offer is €23/share, representing, it says, a premium of almost 20pc to Naturgy’s pre-offer price. The offer has been declined by two of Naturgy’s largest strategic investors and may also be rejected by its largest single shareholder, bank La Caixa. But IFM’s bid, which is conditional on it being able to buy a minimum 17pc stake, “has a high chance of succeeding” with enough holders of Naturgy
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
