Saturday, September 30, 2023
  • Contact
  • Write For Us
  • About Us
  • Privacy Policy
  • Editorial Guidelines
Hesper Herald Daily News
  • Home
  • News
  • Politics
  • Business
  • Technology
  • Culture
  • Lifestyle
  • Travel
  • Health
  • Login
No Result
View All Result
Hesper Herald Daily News
Home Technology

IFM Needs High Level Of Acceptance For Its Offer On Naturgy To Prosper

Sam Proust by Sam Proust
October 4, 2021
in Technology
0
Naturgy
0
SHARES
77
VIEWS
Share on FacebookShare on Twitter

The Australian fund IFM needs a high level of acceptance for its takeover bid for the 22.69% of Naturgy’s share capital to succeed, given that CriteriaCaixa’s announcement of raising its stake in the energy company to 30% will significantly reduce the ‘free float ‘ of the company.

This is estimated by analysts at Bank of America (BoFA), who warn that IFM would have to achieve a very high acceptance to reach its target participation of 17-23% in the capital of the company chaired by Francisco Reynés.

Related posts

Innovative technologies to transform work efficiency

Innovative technologies to transform work efficiency

June 19, 2023
SEO-Company

What is the Contrast Between SEO Company and Website Development Company?

June 13, 2023

Thus, if the investment arm of La Caixa, which has already exceeded 25% of Naturgy’s capital, acquires almost 30% as it intended, the company’s free float would be around 25% , taking into account that CVC owns 20.7%, GIP 20.6% and Sonatrach 4.2%.

According to Bank of America, potential scenarios that open up now could include IFM withdrawing or increasing its offering .

In a scenario of withdrawal of its takeover bid, the entity’s analysts believe that Naturgy’s shares could initially fall, but would “potentially recover strongly” from that moment, since the “solid” outlook presented by the market of the gas “drives positive earnings reviews.”

On February 5, IFM submitted to the National Securities Market Commission (CNMV) the request for authorization, including the prospectus, of its voluntary and partial public offering to acquire up to 22.69% of Naturgy’s share capital.

In mid-March, the Australian fund adjusted the price of the takeover bid as a result of the dividend paid by the energy company to its shareholders, thus leaving the price at 22.37 euros per share, which yields a total amount of 4,921 million euros.

Naturgy’s board of directors plans to approve a new strategic plan for 2021-2025 at the meeting scheduled for the 27th of this month, during the IFM takeover bid for the company.

The most outstanding aspects of this plan will be presented to the market on the 28th, coinciding with the publication of results for the first half of 2021.

Investment capacity
Bank of America hopes that in its new strategic plan Naturgy will offer some indication of the company’s plans for capital deployment, and recalls that in recent statements its directors have suggested possible complementary acquisitions and have identified opportunities to invest in renewable energy .

In this regard, BoFA analysts believe that even at high acquisition multiples, the $ 5 billion that Naturgy estimates have free capacity on the balance sheet , a figure large enough to drive “significant growth” in earnings. , which could be in the double digits.

As other elements in favor, it is worth highlighting the increase in gas prices of more than 100% from the 2020 lows and Naturgy’s high exposure to the price cycle of this raw material, which together with its investment capacity of 5,000 million and the reduction of debt by 11,000 million -and, therefore, the lower financial costs-, offers a clear perspective of improvement over the value, for which it reiterates its recommendation to ‘buy’.

Previous Post

Windows 11 Will Force You To Have A Webcam On Your Laptop

Next Post

CriteriaCaixa Is Further Strengthened In Naturgy In Full IFM Takeover Bid

Next Post
CriteriaCaixa Is Further Strengthened In Naturgy

CriteriaCaixa Is Further Strengthened In Naturgy In Full IFM Takeover Bid

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Four Ways Wearable Tech is Improving Our Workouts

Four Ways Wearable Tech is Improving Our Workouts

1 year ago
The Drinks Trolley is Our Latest Obsession: Here’s Why You Need One

The Drinks Trolley is Our Latest Obsession: Here’s Why You Need One

2 years ago
Here’s how many miles of range EV motorists could lose this winter

Here’s how many miles of range EV motorists could lose this winter

2 years ago
World Cup of Floristry coming to Manchester

World Cup of Floristry coming to Manchester

10 months ago

FOLLOW US

BROWSE BY CATEGORIES

  • Automotive
  • Blog
  • Business
  • Culture
  • Education
  • Finance
  • Food & Drinks
  • Health
  • History
  • Home Improvement
  • Law
  • Lifestyle
  • News
  • Politics
  • Property
  • Sport
  • Technology
  • Travel
  • Uncategorized
PR Fire International Press Release Distribution

BROWSE BY TOPICS

Aman Lakhiani Benares Danny Hudson FANUC FarEye Finder forteq UK Global Wellness Summit Hakkasan Hannah Beko House Buy Fast I. Philips instantprint IntElect J. Anable Jonathan Rolande Junsei Laura Mucklow Leicester College of Performing Arts Liz Truss Marion Plant Midland Academies Trust Mikron National Association of Property Buyers NHS Charities Together North Warwickshire and South Leicestershire College (NWSLC) Patisserie Valerie Paul Wallis PDSA Peter Lillicrapp Poppy Keddie Pumpkin Spice Latte Cake Quotezone.co.uk Ria Powell Sameer Taneja Sameer Taneja of Benares and Andrew Yeo Scorpion Vision Steve Roberts Sumitomo Demag Sustainable September T. Chatterton technology Tom Kerridge Vivek Singh wedding
PR Fire International Press Release Distribution

POPULAR NEWS

  • harry kane

    Italy vs England – Predictions & Free Bet Offers

    0 shares
    Share 0 Tweet 0
  • What Causes Sharp Stabbing Pain in Right Side Under Rib?

    0 shares
    Share 0 Tweet 0
  • An Ultimate Guide to Med Beds Technology

    0 shares
    Share 0 Tweet 0
  • NASA Confirms That Asteroid Bennu Poses A Threat To Earth

    0 shares
    Share 0 Tweet 0
  • What is the Difference Between a Modem and a Router?

    0 shares
    Share 0 Tweet 0
  • Contact
  • Write For Us
  • About Us
  • Privacy Policy
  • Editorial Guidelines

© 2020 Hesper Herald

No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • Lifestyle
  • Travel

© 2020 Hesper Herald

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In