Spain's Gas Natural sells Colombian distribution unit to Brookfield

From Reuters - November 18, 2017

MADRID, Nov 18 (Reuters) - Spains Gas Natural said late on Friday it had agreed to sell the 59.1 percent stake it owns in its Colombian retail distribution unit to infrastructures fund Brookfield Infrastructure for 482 million euros ($568 million.

Brookfield will launch a takeover offer for the remaining 48.9 percent of the firm at the same price, valuing the company at 1 billion euros, including debt, or 7.3 times its earnings before interest, tax, depreciation and amortisation.


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