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International Endesa Buys Galp EnergA-a's NG Trading Business in Spain.


2 November 2015 - Spanish electric utility Endesa SA (BME: ELE) has acquired Galp EnergA-a Group's natural gas trading business in Spain, for a total purchase price of EUR 34.7m (USD 38.21m), the group said.

Endesa made the acquisition for its domestic-commercial segment.

The closing occurred after the parties obtained clearance from the National Markets and Competition Commission in Spain.

This acquisition will become effective from 1 November.

The deal total amount includes the preliminary adjustments typical in these kinds of transactions to reflect net debt and working capital, and will also be subject to subsequent adjustments once the closing balances have been verified, Endesa said.

Endesa, S.A., originally an initialism for Empresa Nacional de Electricidad, S.A., is the largest electric utility company in Spain.

The firm, a majority-owned subsidiary of the Italian utility company Enel, has 10m customers in Spain.

Country: Spain

Sector: Utilities

Target: Galp EnergA-a/natural gas trading business in Spain

Buyer: Endesa SA

Vendor: Galp EnergA-a Group

Deal size in USD: 38.21m

Type: Corporate Acquisition

Financing: Cash

Status: Closed

Buyer advisor: , ,


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Publication:M & A Navigator
Date:Nov 2, 2015
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