Spain: Third time lucky for Gas Natural

GAS NATURAL should complete its acquisition of Unión Fenosa this month – its third attempt in five years to buy a power company. Analysts say the industrial logic of the deal is robust. Gas Natural's gas assets and Unión Fenosa's electricity assets are a natural fit; combining them should enable the gas supplier to lower its dependence on gas sales and to add value to its gas-supply operations through power generation.