King Wood Mallesons has advised EDP Group on the acquisition of piped gas assets in the North of Spain (Basque Country, Cantabria and Asturias region), from global energy company Repsol for €116 million.

The assets acquired by EDP, through its subsidiary Naturgas Energía, comprise approximately 82,000 supply points of liquefied propane gas LPG. This transaction will allow EDP to increase its gas distribution network in Spain by 9%, to 1 million of gas supply points, strengthening its strategic position as a leading player of gas distribution and supplier in the Iberian market.

The completion of the transaction, subject to authorizations by regulatory authorities, is expected in the second half of 2016.

The King & Wood Mallesons team was led by Corporate partners Roberto Pomares and Pablo Díaz in Spain, with Corporate associate Gonzalo Fernández.

In the last few years, King & Wood Mallesons has advised EDP on its top corporate deals in Spain, including the takeover bid for Hidroeléctrica del Catábrico, the IPO of EDP Renováveis, the acquisition of distribution assets from Gas Natural and the sale of the gas transmission business of Naturgás to Enagás.

With a presence in 13 countries, EDP is an international energy group and one of the world’s leading players in the renewable energy market. In Spain, the company is at the forefront of the energy market with activities in the generation, distribution and commercialisation of electricity and gas.