BRIEF-Gas Natural To Sell Its Stakes In Kangra Coal And Iberafrica Power

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BRIEF-Gas Natural To Sell Its Stakes In Kangra Coal And Iberafrica Power
Credit: © Reuters.

June 27 (Reuters) - Gas Natural SDG SA GAS.MC :

* SAYS PRE-AGREED THE DISPOSAL OF ITS 70 PERCENT IN KANGRA COAL PROPRIETARY LIMITED TO MENAR HOLDING

* TRANSACTION REPRESENTS AN EQUITY VALUE OF 28 MILLION DOLLARS FOR 70 PERCENT SHAREHOLDING OF GNF AND IS NOT EXPECTED TO HAVE AN IMPACT ON P&L

* SAYS EXPECTS THAT COMPLETION WILL OCCUR BEFORE YEAR END

* SAYS ALSO ENTERED INTO AGREEMENT WITH AEP ENERGY AFRICA LIMITED FOR SALE OF IBERAFRICA POWER LIMITED IN KENYA

* TRANSACTION REPRESENTS A ENTERPRISE VALUE OF 61.6 MILLION DOLLARS AND IS NOT EXPECTED TO GENERATE ANY SIGNIFICANT CAPITAL GAINS

* EXPECTS THAT COMPLETION OF TRANSACTION IN KENYA WILL OCCUR IN THE LAST QUARTER OF THIS YEAR

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