In today’s briefing:
- TAQA/Naturgy: Takeover Interest
TAQA/Naturgy: Takeover Interest
- TAQA has admitted considering a full takeover of Naturgy Energy Group SA (NTGY SM) and discussions with CriteriaCaixa regarding a possible cooperation pact, with CriteriaCaixa remaining a shareholder.
- GIP and CVC have exceeded the typical investment maturity period and may be willing to dispose of their stakes in Naturgy if presented with a good offer.
- The possibility of corporate actions could bolster the stock from these levels. I assign a >50% probability to a full/partial takeover bid at around €25/26 per share actually materializing.
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