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Spain's Naturgy dips after holding vehicle, Abu Dhabi's TAQA end takeover talks

Investing.com
·1-min read

Investing.com -- Madrid-listed shares in Naturgy (BME:NTGY) slipped on Tuesday after holding vehicle Criteria said it had not reached an agreement with Abu Dhabi's TAQA over a joint takeover of Spain's largest natural gas group.

Citing people familiar with the matter, Spanish paper El Mundo said TAQA had terminated the bid with Criteria, which has a 26.7% stake in Naturgy.

Criteria also said in a filing to market supervisor CNMV that the talks had ceased without an agreement, adding that it is now exploring "new options" for an overhaul of Naturgy.

In its own regulatory filing, TAQA confirmed that the discussions had ended and "a transaction will not take place."

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