Correct: Gas Natural Reshuffles Board of Directors After Repsol Exit

"Gas Natural Reshuffles Board of Directors After Repsol Exit," at 1110 GMT, incorrectly said Francisco Belil and Ramon Adell were appointed to the board and that Cristina Garmendia had left. Mr. Belil and Mr. Adell were already board members and have been appointed to other committees, while board member Ms. Garmendia has left two committees. The correct version follows:

 
   By Alberto Delclaux 
 

Spain's Gas Natural SDG SA (GAS.MC) said Friday that it has appointed three new directors to its board after Repsol SA (REP.MC) completed its 20% stake sale to Rioja Bidco.

Representing Rioja Bidco, the utility said it has appointed Javier de Jaime, Jose Antonio Torre de Silva and Juan Arbide to the board, replacing three Repsol appointees who are departing.

Gas Natural said board member Cristina Garmendia is leaving the audit committee, and the appointments and remuneration committee. Board members Francisco Belil and Ramon Adell joined the audit committee, and the appointments and remuneration committee, respectively.

Repsol struck a deal in February to sell its 20% stake for 3.82 billion euros ($4.51 billion) to Rioja Bidco, which is controlled by CVC Capital Partners Ltd. and Grupo March. The other two big shareholders at Gas Natural are banking foundation La Caixa--which holds a 24% stake and controls three board seats--and Global Infrastructure Partners LLC, with a 20% stake and three seats.

Write to Alberto Delclaux at [e-mail]

(END) Dow Jones Newswires

May 18, 2018 07:57 ET (11:57 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.