Clifford Chance advises Corporación Financiera Alba on reorganisation of its investment in Naturgy with CVC and renewal of partner agreement

Clifford Chance advised Corporación Financiera Alba on the reorganisation of its investment structure in Rioja Investments S.à r.l. (mainly owned by the CVC funds) and on the renewal of its shareholders' agreement with CVC. The transaction reorganises Alba's participation in Rioja Investments and renews the partners' governance arrangements. Under the resulting structure Corporación Financiera Alba acquires a direct stake of 5.01% in the share capital of Naturgy, while Rioja Investments S.à r.l. continues to hold a 13.80% stake. The new arrangement is intended to afford both partners greater flexibility without altering the governance or the joint objectives of their investment in Naturgy. Clifford Chance represented Corporación Financiera Alba with a team composed by: counsel Miguel Barredo; associates Maria Vilar and Maria Rodrigo; consultant Javier Garcia de Enterría; senior counsel Roberto Grau (tax); senior associate Octavio Canseco (regulatory); and partner Katia Gauzès and senior associate Grégoire Colson of the Luxembourg office.

Clifford Chance advises Corporación Financiera Alba on reorganisation of its investment in Naturgy with CVC and renewal of partner agreement

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