Gas Natural and Sonatrach are making peace. Both companies have overcome their disagreements before the Federal Tribune of Switzerland could state their opinion the end of this month as was predicted.
According to sources consulted by elEconomista, some of the points covered in the agreement entertained the possibility that the Algerian company would take between 3% and 5% of the Spanish gas company by means of a limited capital expenditure to Sonatrach.
Salvador Gabarró (president of Gas Natural) and Rafael Villaseca (delegate advisor of the company) traveled to Algiers in the morning to sign the agreement.
Sources confirm that the CEOs arrived at the Algierian capital at noon to meet with representatives from Sonatrach after which teams of employees come to the beginnings of an agreement.
Although for now this deal is not finalized and some points are trying to be worked out, it seems done already.
The meeting and agreement were held at eight o'clock in the afternoon, Spanish time, and immediately after Gas Natural issued an statement to the National Commission on Securities Market (similar to the SEC, in the US).
Both parties agreed that Gas Natural will relinquish all legal proceedings in progress, ie. the action brought in the Federal Court of Switzerland.
