Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Naturgy : Transformation to M&N’s to optimise the valuation

>Naturgy splits into “MarketCo” and “NetworkCo” - Naturgy has announced that its board of directors, on a proposal from its management board, has unanimously approved Project Gemini which consists of the creation of two major energy group, listed and with clearly distinct commercial profiles, with the same shareholding structure as today. In detail, this split will create a first company “MarketCo” which will regroup all of the liberalised businesses focused on energy...
Underlying
Naturgy Energy Group S.A.

Gas Natural SDG is a gas company based in Spain. Co. and its subsidiaries are primarily engaged in the supply, transportation, distribution and commercialization of piped natural gas, as well as the activities involving exploration and developing, supply, regasification, liquefaction and storage of natural gas, and the generation and commercialization of electricity. Co. operates mainly in Spain and also outside of Spain, especially in Latin America, Puerto Rico, Italy, France and Africa (through Maghreb-Europe gas pipeline and integrated LNG projects in Algeria).

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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