September 24, 2017 9:31 PM ET

Gas Utilities

Company Overview of Redexis Gas, S.A.

Company Overview

Redexis Gas, S.A. is engaged in the development and operation of transport infrastructure and distribution of natural gas in Spain. It operates gas networks in the autonomous community of Aragon, Balearic Islands, Andalusia, Castile and Leon, Castile-La Mancha, Valencia, Madrid, Murcia, Catalonia, and Extremadura to provide natural gas to residential customers and industrial clients. The company also offers meter reading, measurement, domiciliary operations, and periodic inspection services. Redexis Gas, S.A. was formerly known as Endesa Gas T&D, S.L. and changed its name to Redexis Gas, S.A. in November 2013. The company was founded in 2000 and is based in Madrid, Spain.

C/ Mahonia

2. Edificio Pórtico

Madrid,  28043

Spain

Founded in 2000

Phone:

34 912 77 79 85

Key Executives for Redexis Gas, S.A.

Executive Chairman
Chief Financial Officer
Operations Director and General Manager for Arago´n
Regulatory & General Counsel and Secretary
Corporate Communication and Public Affairs Director
Compensation as of Fiscal Year 2017.

Redexis Gas, S.A. Key Developments

Goldman Sachs Infrastructure Reportedly Readies Shortlist Of Bidders For Redexis Sale

Goldman Sachs Infrastructure Partners (GSIP) is to shortlist first-round bidders for Redexis Gas, S.A. within days, sources said. Binding bids for the asset will likely be due in March 2017, two sources said. The seller received indicative bids from a consortium comprising Allianz SE (DB:ALV), Borealis Infrastructure Trust and China Investment Corporation. Another consortium between First State Investments and Canada Pension Plan Investment Board (CPPIB) also submitted an offer. J.P. Morgan Asset Management, Inc. (JPMorgan), Abu Dhabi Investment Authority (ADIA) and Arcus Infrastructure Partners LLP also placed bids, a source briefed on the matter said. However, Arcus is unlikely to acquire the asset on its own, the person added. Some smaller funds, such as Arcus, are likely to participate in this first round in order to syndicate the equity in the second, a source close to the deal said. A second German fund is also considering a bid, another source close said, as was a Chinese company, possibly China Enterprise Company Limited (SHSE:600675). Cheung Kong Infrastructure Holdings Limited (SEHK:1038) (CKI) was also considering an offer, according to previous press reports. Allianz, Arcus, Borealis and CPPIB declined to comment. ADIA, CIC, First State, GSIP, and JPMorgan were not available for comment.

Goldman Sachs May Consider Selling Redexis

The Goldman Sachs Group, Inc. (NYSE:GS)'s infrastructure fund is considering selling all or part of Redexis Gas, S.A. sometime in the second half of 2016, Reuters cited unnamed people with knowledge of the matter. EQT Holdings AB, KKR & Co. L.P. (NYSE:KKR), Ardian and Cinven are expected to be among the interested parties, according to El Economista's story. Madrilena Red De Gas may also take part in the sale process. GSIP declined to comment when contacted by the news service.

European Investment Bank Signs Loan Agreement Worth €160 Million with Redexis Gas

European Investment Bank (EIB) has signed a loan agreement worth €160 million with Redexis Gas to construct new gas pipelines in Spain. The loan will allow Redexis to reach customers in remote and rural areas in Spain, replacing polluting fuels with cleaner and cheaper natural gas. The project, which is backed by the Investment Plan for Europe, will reduce energy costs and cut household and business emissions, as well as creating hundreds of new jobs.

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Recent Private Companies Transactions

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