10/18 2017
THE ENTRY OF SOJITZ INTO REGANOSA IS SUBJECT TO APPROVAL BY REGULATORY AUTHORITIES
- The shareholders of the Spanish energy company decide not to exercise their right of preferential acquisition
In extraordinary convocation today, the general meeting of shareholders of Reganosa decided not to exercise its right of preferential acquisition before an offer recently raised by Japanese corporation Sojitz to First State to acquire all the shares of said Australian fund in the Spanish society: a 15% stake. This transaction is subject to the corresponding approval by regulatory authorities.
If confirmed, it would be a capital movement that would not alter the balance of forces within the shareholding or the company's governance. While Reganosa is in a process of international expansion, this operation would imply the departure of an investor partner and the entry of another industrialist with wide experience and reputation in the sector.
At the moment, Reganosa's shareholding is composed by Grupo Tojeiro, with a 50.69% of the capital; Xunta de Galicia (Regional Administration), with a 24.31 %; First State, with another 15 %; and Sonatrach, with the remaining 10 %.
