Galp Gas SA

Acquisition

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. €32 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. €1 billion and c. 1,450 million cubic metres (m3) 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. €82 million and c. 122 million m3 of natural gas distributed each year.

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

 

 

 

Galp Gás Natural Distribuição, S.A.

Investor Relations

 

Contacts:

Tel: +351 218 655 379

Fax: +351 210 039 370

 

Address:

Rua Tomás da Fonseca, Torre C

1600-209 Lisbon, Portugal

 

Website: www.galpgasnaturaldistribuicao.pt

Email: [email protected]

 

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.


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