VAYU LIMITED (“VAYU”) BECOMES PART OF THE LEADING SPANISH UTILITY GAS NATURAL FENOSA (“GNF”)

Vayu has a portfolio of commercial and industrial gas and electricity customers.

GNF has agreed to acquire Vayu because of its strong commercial upside in Ireland and the United Kingdom, its customer service orientation and its high quality customer base. 

The robustness of GNF’s balance sheet and range of services will strengthen Vayu’s market position.

Vayu Limited becomes part of the leading Spanish utility Gas Natural Fenosa following the acquisition of 100% of Vayu’s share capital, in a deal that closed this week.

Vayu, established in 2003, is an Irish gas and electricity marketer focused on commercial and industrial customers, which also purchases and sells renewable energy from small generators, and operates in the local market and in the United Kingdom.

GNF is a leading integrated gas and power group of companies, active in 30 countries with 23 million customers and total assets of €48,132 million.  GNF has a credit rating of Baa2 from Moody’s and BBB from Standard and Poor’s.  GNF reported an EBITDA of €5,264 million in 2015 (48% from international markets).  GNF is a publicly listed company in Spain with a market capitalization of c.€18bn as of 15th of July 2016.

For GNF, the acquisition of Vayu is part of the fulfillment of the new strategic plan which envisages growth in energy marketing in European markets. This transaction strengthens the Group’s strategic position and footprint in the European markets (Spain, France, Italy, Belgium, The Netherlands, Portugal, Germany and Luxemburg) and will enhance the development of LNG operations and trading.

The transaction will undoubtedly strengthen Vayu’s position in the local market due to the robustness of GNF’s balance sheet and range of services.

For further information:

www.gasnaturalfenosa.com

www.prensa.gasnaturalfenosa.com\en\

 

 

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