Three teams have bid to acquire Madrileña Red de Gas, a Spanish natural gas distributor owned by Galp Energia and Morgan Stanley infrastructure unit.
Madrileña Red de Gasis, which is the natural gas distribution company with perpetual licences serving 57 municipalities in the Region of Madrid (Madrid Autonomous Community), has about 5,350 kilometers of pipelines. The company operates 11% of the natural gas connection points in Spain. The firm's EBITDA in 2014 was €149.2 million (US$161.7 million).
The three consortia that have entered in the second round to acquire the gas firm are the following:
In 2010 Gas Natural sold Madrileña Red de Gas to Galp Energia and Morgan Stanley for a total of €800 million, after regulators forced a sale. Morgan Stanley owns the distribution assets and Galp Energia owns the supply businesses.