Germany's biggest utility E.ON is asking bidders to submit binding offers for its Spanish business by Nov. 3, three people familiar with the matter told Reuters, adding the assets are likely to fetch as much as 2.2 billion euros ($2.8 billion). Potential bidders include Australia's Macquarie, private equity firm CVC Capital Partners and Spain's largest utility Endesa, which is controlled by Italy's Enel, the sources said.In addition, two consortia are expected to hand in bids. First, Spain's Grupo Villar Mir has teamed up with First State Investments, the asset management arm of Commonwealth Bank of Australia (CBA), two of the people said.The second consortium comprises Spanish gas and electricity firm Gas Natural and Madrilena Red de Gas, a Spanish gas distributor owned by Morgan Stanley Infrastructure, the people said, adding the unit could fetch a price of 2-2.2 billion euros.E.ON, Macquarie, CVC, Gas Natural and Madrilena Red de Gas all declined to comment.
Gas Natural Inc., is a natural gas company, primarily operating local distribution companies in six states and serving approximately 70,000 customers. Shares of EGAS fell by 0.18% or $-0.02/share to $11.40. In the past year, the shares have traded as low as $7.49 and as high as $13.17. On average, 65945 shares of EGAS exchange hands on a given day and today's volume is recorded at 303.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 0.15% or $-0.05/share to $34.21. In the past year, the shares have traded as low as $28.31 and as high as $36.44. On average, 9694390 shares of MS exchange hands on a given day and today's volume is recorded at 220877.
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