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Naturgy shoots up: negotiates the sale of a "relevant" asset in Latin America

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Naturgy has informed the National Securities Market Commission (CNMV) that it is in "very advanced" negotiations relating to the sale of a "relevant asset" of its portfolio in Latin America, although this transaction has not yet occurred.

"Once a definitive irrevocable agreement is signed, it will be communicated to the market indicating its scope, economic conditions and implications," the company added in a relevant event sent to the CNMV.

Naturgy rises very strongly at this time on Friday. The company appreciates more than 6% after announcing this news.

'Expansión' publishes that Naturgy will sell its business in Chile to China State Grid for 4.3 billion. Angel Pérez, Renta 4 analyst, tells Bolsamanía that, if this sale price is confirmed, It would be a very positive price (almost 10 times EV EBITDA) that could value the rest of the assets in Latin America.

Naturgy has assets in Latam Norte (gas in Mexico and electricity in Panama) and assets in Latam Sur (Chile, Brazil and Argentina).

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