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Announced

Caisse des Dépôts and CNP Assurances to acquire a 11.5% stake in GRTgaz from ENGIE in a €14.6bn deal.

Financials

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Transaction Value£1,431m
Consideration TypeCash
Capital Owned-
Capital Bid For12%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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France

Minority

Pending

Single Bidder

Private Equity

Acquisition

Private

Domestic

Friendly

gas transmission

Gas Distribution

Synopsis

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Caisse des Dépôts, a private equity firm, and CNP Assurances, an insurance services provider, agreed to acquire a 11.5% stake in GRTgaz, a gas transmission company, from ENGIE, an utility company, in a €14.6bn deal. "Today’s agreement marks further progress in the execution of the strategic plan we presented in May, and it strengthens the longstanding relationship ENGIE has with Caisse des Dépôts and CNP Assurances. It also demonstrates our shared vision of the value and the essential role of gas to reach “Net Zero” whithin a balanced, affordable, and resilient energy mix," Catherine MacGregor, ENGIE CEO.

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