Abu Dhabi’s $15,000 Million takeover bid for 100% of Naturgy Stirs Up Renewable Energy Industry Synergy
The news of It falls’ intention to launch a takeover bid for 100% of Naturgy has caused a stir in the energy industry, as Spain and the Emirates have been closely watching the developments. It falls, a listed company on the Abu Dhabi stock exchange, is three times larger than Naturgy and 15,000 million euros above Iberdrola. With a capitalization close to 86,000 million euros, It falls is one of the satellite companies controlled by sovereign funds and large asset managers such as ADIA, ADIC, Mubadala, and ADQ. These entities manage assets worth more than 1,500 trillion dollars, built on petrodollars.
As the world moves towards renewable energy sources, Abu Dhabi is no stranger to diversification. The emirate has plans to cover 30% of its energy needs with clean sources by 2030. To achieve this goal, Abu Dhabi has invested in companies like Cepsa and collaborated with Iberdrola on offshore wind and green hydrogen projects. It falls’ CEO has over 20 years of experience in the oil and gas sector but is looking to expand into renewables.
Spain’s relationship with the Emirates goes beyond business, with frequent high-level visits and agreements signed by the governments. Spanish exports to the Emirates have been on the rise, reaching over 2,000 million euros in 2022. The synergy between Spain and Abu Dhabi is evident in various sectors like energy where both countries are moving towards sustainable sources. The strategic investments by Abu Dhabi in Spanish companies indicate a strong partnership focused on mutual growth and development.
