The tensions of the takeover bid with which IFM Investors took over 10.83% of Naturgy in October 2021 have gone down in history. The leadership of the Australian fund present this week in Madrid has conveyed all its confidence and support to the management team of the energy company chaired by Francisco Reynés and its intention to remain in the company in the "very, very long term", assured David Neal, director IFM delegate during a meeting held this Monday with journalists.
Neal, Kyle Mangini, general director of infrastructure, and Deepa Bharadwaj, director of infrastructure, have arrived in the capital to participate tomorrow in an assembly with international investors, which on this occasion will be held in Spain. They have assured that IFM's interest in Naturgy is long-term.
Although neither they nor Jaime Siles, the visible head of IFM in Madrid, have wanted to give details about increases in their participation in the energy company, they have shown themselves "very, very interested in the company's projects that can create value" and in their support for Francisco Reynés himself.
It should be remembered that before the summer, Naturgy shareholders had the intention of appointing a CEO to share power with the executive president, which ultimately did not go ahead.
From IFM they do not want to "comment on any type of rumor" and remember that they entered the capital of Naturgy with the current management structure.
They have been much clearer about their support for plans such as the Geminis project, which proposed splitting the company into two. "Everything that is proposed to give value to the company will make sense for us," said Kyle Mangini.
IFM is also present in Spain in other companies such as Aqualia, of which it owns 49%, or the Aleástica highway group (formerly OHL) and aims to continue increasing its presence in strategic sectors and companies both in Spain and in Europe.
"Since 2018 we have invested 8 billion in Europe and we are looking at everything. Because we see opportunities on the continent in the development of new technologies and renewables," confirms Bharadwaj. They have special interest in innovative infrastructures in sectors such as renewable energy or telecommunications.
Economic instability "is not a problem for your future projects, we can work in any regulatory framework as long as it is stable and defined," Mangini assured, although "it is obviously more comfortable to work in environments with regulatory security," he commented.
The manager has also assured that he understands the application of the Government's excessive dividend rate, although "I would prefer it not to exist, of course."
