Deals
Portugal’s Top Oil Firm Prepares Gas Distributor Sale
- Galp working with Bank of America on potential divestment
- Deal could value business at as much as 1.5 billion euros
This article is for subscribers only.
Galp Energia SGPS SA, Portugal’s biggest oil company, is planning a sale of its gas distribution assets in a deal that could value the business at as much as 1.5 billion euros ($1.7 billion), people familiar with the matter said.
The company is working with Bank of America Corp. on the potential divestment, according to the people, who asked not to be identified because the information is private. Galp plans to send out preliminary information on the business to potential buyers shortly and will invite initial bids in the next few weeks, the people said.