King & Wood Mallesons instructed on €116m EDP Group acquisition

King & Wood Mallesons advised EDP Group on the €116 million acquisition of piped gas assets in the north of Spain – specifically the Basque Country, Cantabria and Asturias region – from Repsol.

The assets acquired by EDP, through its subsidiary Naturgas Energía, comprise approximately 82,000 supply points of liquefied propane gas LPG.

This transaction will allow EDP to increase its gas distribution network in Spain by 9 per cent, to one million gas supply points.

The transaction is expected to be completed in the second half of 2016, subject to authorisations by regulatory authorities.

The King & Wood Mallesons team included partners Roberto Pomares and Pablo Díaz, as well as associate Gonzalo Fernández.