Linklaters is advising IFM Global Infrastructure Fund on its partial voluntary tender offer for up to 220 million of shares in Naturgy Energy Group S.A, the Spanish energy company, representing up to 22.69% of the share capital of the company.
It is expected to be one of the largest investments by a financial sponsor in a listed company in Spain in recent years.
IFM is one of the largest infrastructure investment managers in the world and has 25 years of expertise in the infrastructure sector across the globe with a strong commitment to participating in the energy transition.
The Linklaters team is being led by partner Alejandro Ortiz (Corporate, Madrid) and counsel Esteban Arza (Corporate, Madrid).
The offer will be subject to receiving all relevant regulatory and antitrust approvals and to reaching a minimum acceptance level of at least 164.834.347 shares, equivalent to 17% of Naturgy’s total share capital.
Linklaters has a track record of advising on some of the most high-profile public M&A deals in Spain, including the takeover by SIX over BME which was later awarded M&A Deal of the Year in 2020 by Spanish business newspaper Expansión.
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