Mergers & Acquisitions Deal Analysis – Gas Natural Acquires 45.3% Interest in Union Fenosa from ACS by GlobalData

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									M&A Deal Analysis – Gas Natural Acquires 45.3% Interest in Union Fenosa from ACS
Reference Code: GDAE0050M&A Publication Date: APR 2009

Alternative Energy M&A Deal Analysis
© GlobalData. This report is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0050M&A / Published 04/2009 Page(1)

Table of Contents

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1.1 1.2

Table of Contents
Table of Contents ........................................................................................................2
List of Tables ...................................................................................................................................................... 4 List of Figures..................................................................................................................................................... 5

2 M&A Deal Analysis – Gas Natural Acquires 45.3% Interest In Union Fenosa From ACS .....................................................................................................................................6 3
3.1 3.2 3.3

Gas Natural Acquires 45.3% Interest In Union Fenosa From ACS ..........................7
Deal Overview..................................................................................................................................................... 7 Deal In Brief......................................................................................................................................................... 7 Comparable Deals ............................................................................................................................................. 7

3.4 Impact of the Deal on the Company.............................................................................................................. 8 3.4.1 Gas Natural: Electricity Markets................................................................................................................. 8 3.4.2 Acquisition of Union Fenosa: The Rationale............................................................................................ 9 3.5 Deal Financials and Valuation ...................................................................................................................... 10 3.5.1 Companies Involved .................................................................................................................................. 10 3.5.2 Deal Financials ........................................................................................................................................... 10 3.5.3 Deal Rationale ............................................................................................................................................ 10 3.5.4 Advisor Information.................................................................................................................................... 10 3.5.5 Target Company Information.................................................................................................................... 11 3.5.6 Key Financials (in Mn):.............................................................................................................................. 11 3.5.7 Share Price Information ............................................................................................................................ 12 3.5.8 Company Valuation Multiples................................................................................................................... 12 3.5.9 Acquirer Information .................................................................................................................................. 12 3.5.10 Vendor Information .................................................................................................................................... 13

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4.1 4.2 4.3

Appendix ....................................................................................................................14
About GlobalData............................................................................................................................................. 14 About GlobalData............................................................................................................................................. 14 GlobalData Benefits ........................................................................................................................................ 15

Alternative Energy M&A Deal Analysis
© GlobalData. This report is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0050M&A / Published 04/2009 Page(2)

Table of Contents

4.4 4.5 4.6

GlobalData Features ....................................................................................................................................... 16 Contact Us ......................................................................................................................................................... 16 Disclaimer .......................................................................................................................................................... 16

Alternative Energy M&A Deal Analysis
© GlobalData. This report is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0050M&A / Published 04/2009 Page(3)

Table of Contents

1.1

List of Tables

Table 1: Comparable Acquisitions in the Renewable Energy Sector............................................................................................7 Table 2: Companies Involved ...........................................................................................................................................................10 Table 3: Financials of the Deal .........................................................................................................................................................10 Table 4: Advisor Information .............................................................................................................................................................10 Table 5: Target Company Information .............................................................................................................................................11 Table 6: Table 7: Table 8: Target’s Financial Information.....................................................................................................................................11 Target’s Share Price Information................................................................................................................................12 Target’s Valuation Multiples ........................................................................................................................................12

Table 9: Acquirer Information............................................................................................................................................................12 Table 10: Vendor Information ...........................................................................................................................................................13

Alternative Energy M&A Deal Analysis
© GlobalData. This report is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0050M&A / Published 04/2009 Page(4)

Table of Contents

1.2

List of Figures

Figure 1: Installed Capacity of Gas Natural and Union Fenosa, MW, 2008.................................................................................9

Alternative Energy M&A Deal Analysis
© GlobalData. This report is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0050M&A / Published 04/2009 Page(5)

GlobalData M&A Deal Analysis

2 M&A Deal Analysis – Gas Natural Acquires 45.3% Interest In Union Fenosa From ACS
Gas Natural Group, an energy company, exercised its option to acquire stake in Union Fenosa, S.A., an
								
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