MADRID, March 8 - Russian Gazprom is among 10 groups interested in assets Gas Natural has to sell as part of its takeover of Union Fenosa, the Spanish utility's chairman said in a newspaper interview on Sunday.
Salvador Gabarro told El Pais the sale of 2,000 megawatts of installed capacity ordered by Spanish competition authority CNC as part of Gas Natural's purchase of electricity generator Fenosa would not be difficult.
"Already many people have approached us with interest and people with a lot of money," he told the paper.
"Gazprom is one of the operators that have shown an interest for our combined cycle (gas) power stations. But I can't give more names ... There are up to 10 interested."
Gabarro said greater ties with Gazprom would lessen Gas Natural's reliance on Algeria, which will supply 50 percent of Spain's gas when a new pipeline between the two countries is finished.
Gazprom chief executive Alexei Miller said during a visit to Spain last week his company planned to sign a gas swap deal with Gas Natural to bring Russian gas to Spain.
MERGER LIKELY
Having bought out Fenosa's main shareholder, Spanish builder ACS, GasNat has launched a full 16.7 billion euro ($21 billion) offer for the company and Gabarro said the two companies would probably be rolled into one.
"It will probably be a merger. We are looking at a very easy integration. The companies are complementary" he said. "It will not be a long integration." Gabarro said Gas Natural chief executive Rafael Villaseca would become CEO of Fenosa, taking over from Honorato Lopez Isla, who became Fenosa chairman last week.
He said many directors would leave the enlarged company, "above all those of a certain age", a move that would mean the end of a separate board for Fenosa. However the 72-year old said his continued presence as chairman depended on GasNat shareholders and regional savings bank La Caixa.
COMFORTABLE WITH ENI, COOL ON SUEZ
Gabarro said he was happy with Fenosa's gas joint venture with Italian energy firm ENI -- a stake the competition watchdog has allowed it to keep -- even though ENI said in February it was looking into EU rules to challenge GasNat's takeover of Fenosa.
But he was much cooler towards France's GDF Suez SA which owns just over 8 percent of GasNat, and which has called for collaboration between the two companies.
"They are competitors. And Gas Natural does not have a calling to be a gas subsidiary of Suez," he said. "Why are they in (the shareholding of) Gas Natural? I don't know."
Gabarro told El Pais that after building debt close to 20 billion euros through the purchase of Fenosa, Gas Natural would take a conservative line on future acquisitions .
Salvador Gabarro told El Pais the sale of 2,000 megawatts of installed capacity ordered by Spanish competition authority CNC as part of Gas Natural's purchase of electricity generator Fenosa would not be difficult.
"Already many people have approached us with interest and people with a lot of money," he told the paper.
"Gazprom is one of the operators that have shown an interest for our combined cycle (gas) power stations. But I can't give more names ... There are up to 10 interested."
Gabarro said greater ties with Gazprom would lessen Gas Natural's reliance on Algeria, which will supply 50 percent of Spain's gas when a new pipeline between the two countries is finished.
Gazprom chief executive Alexei Miller said during a visit to Spain last week his company planned to sign a gas swap deal with Gas Natural to bring Russian gas to Spain.
MERGER LIKELY
Having bought out Fenosa's main shareholder, Spanish builder ACS, GasNat has launched a full 16.7 billion euro ($21 billion) offer for the company and Gabarro said the two companies would probably be rolled into one.
"It will probably be a merger. We are looking at a very easy integration. The companies are complementary" he said. "It will not be a long integration." Gabarro said Gas Natural chief executive Rafael Villaseca would become CEO of Fenosa, taking over from Honorato Lopez Isla, who became Fenosa chairman last week.
He said many directors would leave the enlarged company, "above all those of a certain age", a move that would mean the end of a separate board for Fenosa. However the 72-year old said his continued presence as chairman depended on GasNat shareholders and regional savings bank La Caixa.
COMFORTABLE WITH ENI, COOL ON SUEZ
Gabarro said he was happy with Fenosa's gas joint venture with Italian energy firm ENI -- a stake the competition watchdog has allowed it to keep -- even though ENI said in February it was looking into EU rules to challenge GasNat's takeover of Fenosa.
But he was much cooler towards France's GDF Suez SA which owns just over 8 percent of GasNat, and which has called for collaboration between the two companies.
"They are competitors. And Gas Natural does not have a calling to be a gas subsidiary of Suez," he said. "Why are they in (the shareholding of) Gas Natural? I don't know."
Gabarro told El Pais that after building debt close to 20 billion euros through the purchase of Fenosa, Gas Natural would take a conservative line on future acquisitions .
