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Article: Spain : Gas Natural has 6-7 bidders for Madrid assets.

Article from:
TendersInfo
Article date:
November 4, 2009
Copyright

Byline: manish03

Spanish power company Gas Natural (GAS.MC) has six or seven potential bidders for its gas distribution assets in Madrid but the sale process could last another two months, its chief executive said on Tuesday.

Gas Natural had set a deadline of Sept. 21 for non-binding offers for the Madrid gas network as part of a string of asset disposals aimed at reducing a 22 billion euro ($32 billion) debt pile before the end of the year.

"(The sale) will take a couple of months," Rafael Villaseca said at an energy event in Madrid.

By 1303 GMT, Gas Natural shares were down 1.0 percent at 13.6 euros, compared with a 2.0 percent ...

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