by David Ramirez Spain’s Gas Natural Fenosa is the revenue overachiever in Latin Trade’s Multinational Index for the third-quarter 2015. The company’s Latin American revenue soared 31 percent on the back of higher sales volumes from both gas and power distribution. While in organic terms this came principally from Colombia, Mexico and Panama, it also reflects the acquisition in the latter part of 2014 of Compañía General de Electricidad, S.A. (CGE, from Chile). The transaction, until now GN Fenosa’s largest cross-border deal (6 billion euros, including financial debt), allowed the Spain-based gas power giant to enter the coveted Chilean market. The total revenues of the 25 MNCs composing the index plunged 19 percent in the July-September period, to just below […]
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