Apollo, Blackstone, others considering bids for Gas Natural telecom unit

|About: Apollo Global Management, LLC (APO)|By:, SA News Editor

Apollo Global Management (APO) and Blackstone Group (BX) are among the buyout firms considering offers for the telecom infrastructure unit of Spain’s largest natural gas supplier Gas Natural (GASNY), Bloomberg reports.

P-E firms Carlyle (CG), EQT Partners, Cinven and Bridgepoint, as well as Spanish electricity network operator Red Electrica, also are said to be weighing bids.

Gas Natural, seeking to raise cash as Spanish energy regulations have hurt earnings growth, is believed to be seeking €500M-€600M from a sale.

This was corrected on 04/10/2014 at 09:36 AM. This item was incorrectly directed to subscribers of U.S.-based ticker Gas Natural (EGAS). It has been re-sent to clarify that the item is in fact about the Spanish gas company Gas Natural (GASNY).