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Centrus advises consortium purchasing Naturgas Energía Distribución, S.A.

A consortium of investors comprising, amongst others, institutional investors advised by J.P. Morgan Asset Management,  Swiss Life Asset Managers and a GCC sovereign wealth fund today completed the purchase of Naturgas Energía Distribución, S.A. (“NED”) from Energias de Portugal, S.A. (“EDP”).

Centrus acted as debt and hedging advisor to the consortium on the bank debt used to support the acquisition and in implementing a hedging programme to support the planned long-term refinancing of the business under new ownership.

Naturgas Energía Distribución is a gas distribution business in Spain, comprising over 1 million supply points of natural gas and liquefied propane gas, located in the regions of the Basque Country, Cantabria and Asturias.