Iberdrola to acquire share in Gas Natural Mexico
Jul 18, 2001 02:00 AM
Iberdrola, the Spanish electricity group, is to acquire 13 % of share capital in Gas Natural Mexico whilst Gas Natural will receive Iberdrola's share of natural gas distribution operations in Colombia and Rio, Brazil. This deal will give Gas Natural a 29 and a 38 % stake in CEG and CEG-Rio respectively plus around 60 % of ESP of Colombia as Iberdrola concentrates its Brazilian efforts in the North-East.
Gas Natural Mexico and subsidiary Metrogas are the leading Mexican natural gas distributors whilst Iberdrola is Mexico's leading independent electricity generator. The above deal strengthens Iberdrola's position in Monterrey particularly, where it is building a combined-cycle gas plant at present.
Source: El Economista/SABI via Newspage
