Three teams have bid to acquire Madrileña Red de Gas, a Spanish natural gas distributor owned by Galp Energia and Morgan Stanley infrastructure unit.
Madrileña Red de Gas has about 5,350 kilometers of pipelines. The firm's EBITDA in 2014 was €149.2 million (US$161.7 million).
The three consortia that have entered in the second round to acquire the gas firm are the following:
In 2010 Gas Natural sold Madrileña Red de Gas to Galp Energia and Morgan Stanley for a total of €800 million, after regulators forced a sale. Morgan Stanley owns the distribution assets and Galp Energia owns the supply businesses.