Garrigues acts for CVC on €3.8bn acquisition of Gas Natural Fenosa stake

Garrigues advised CVC Capital Partners on the acquisition of a 20 per cent stake in Gas Natural Fenosa from Repsol.


The deal was valued at €3.8 billion, according to Mergermarket, which equates to a price of €19 per share.

The transaction resulted in capital gains for Repsol totalling €400 million.

Repsol has now reduced its debt to €6.3 billion – at the end of 2015, its debt stood at around €12 billion.

Ben Cook