Buy-side advisory

Advisor to CVC Capital Partners and Corporación Financiera Alba on the acquisition of a 20% stake in Naturgy (Gas Natural Fenosa)

AZ Capital has advised CVC Capital Partners and Corporación Financiera Alba on the acquisition of a 20% stake in Naturgy from Repsol for a total consideration of €3,816 MM.

Naturgy is one of the largest energy infrastructure companies in the world with operations in more than 30 countries and over 23 million customers. The company operates across the gas value chain from procurement to liquefaction, storage, regasification, transportation, distribution and marketing. The company owns the largest gas distribution network and has a leading market share in the retailing of gas in Spain. Naturgy also owns and operates gas distribution networks in Latin America with leading market shares in Brazil, Chile and Mexico. The company owns approximately 15GW of electricity generation assets in Spain and internationally. Naturgy is listed on the Spanish stock exchanges and forms part of the IBEX 35.

Sector: Energy and Utilities