By Cristina Roca

 

IFM Global Infrastructure Fund has bought a 10.83% stake in Spanish utility company Naturgy Energy Group SA, Spain's markets regulator said Thursday.

The Australian fund had originally launched a partial takeover bid for 22.69% of Naturgy's share capital via its investment vehicle Global Infraco O (2) Sarl at EUR22.07 a share.

CNMV, Spain's regulator, said the bidder dropped a 17% minimum acceptance threshold, and that the offer was accepted for 105,021,887 shares, worth 2.32 billion euros ($2.69 billion) based on the offer price.

Shares in Naturgy were suspended shortly before the announcement and will resume trading at 1300 GMT.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

October 14, 2021 08:55 ET (12:55 GMT)

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