Client or Matter Name
Matter name: Project Gaslamp
Cliente: IFM Investors
GC acted as lead counsel as it represented IFM Investors in the merger control process carried out before Cofece in its acquisition of 105 million shares of Naturgy Energy Group, S.A.
Naturgy Energy Group, S.A. (Naturgy) is a Spanish company whose shares are publicly traded on the Madrid, Barcelona, Bilbao, and Valencia Stock Exchanges through the stock exchange interconnection system (Sistema de Interconexión Bursátil – SIBE).
The transaction resulted in the acceptance of a partial voluntary offer for 105 million shares representing a non-controlling stake of up to 10.831% of the share capital of Naturgy.
The offer was made public on January 26th, 2021.
Because of the transaction, IFM Investors acquired an indirect and non-controlling interest of up to 10.831% in Naturgy’s Mexican Subsidiaries.
The consideration for the Offer was EUR 22.07 for share.
GC’s antitrust team successfully obtained merger approval without remedies from COFECE in a short period of time
Represented IFM, in its partial voluntary offer in the purchase of 105 million shares, representing a non-controlling stake of up to 10.831% of Naturgy Energy Group, S.A., by which IFM acquired an indirect and non-controlling interest of Naturgy’s Mexican Subsidiaries.
Innovation & Additional Comments
We obtained the approval of this transaction without COFECE requesting Naturgy’s appearance as a filing party.
Mexican Antitrust Statute.
Deal Duration, Date of Closing / Signing
Involved antitrust team:
Other Firms Involved