The Spanish company Gas Natural Fenosa has sold the 59.1% stake it owns in the Colombian gas distribution and retail company Gas Natural to the Canadian infrastructures fund Brookfield Infrastructure for €482m (US$568m). Besides, Brookfield will launch a takeover offer for the remaining 48.9% stake of the asset at the same price, valuing it at €1bn including debt.
Gas Natural Fenosa holds a significant presence in Colombia's gas distribution market through four subsidiaries: Gas Natural (8 municipalities, 2.1 million customers), Gas Natural Cundiboyacense (59 municipalities, 371,000 customers), Gas Natural Oriente del Oriente (14 municipalities, 291,000 customers) and Subsidiario Gas Natural del Cesar (24 municipalities, 70,000 customers). It reaches about 2.9 million business, residential and commercial customers spread across 105 municipalities. Besides, it has a nationwide gas distribution network (including high, medium and low pressure) of about 22,000 km.