MADRID, March 2 (Reuters) - Blackrock has appointed J.P. Morgan and Goldman Sachs to sell an 11.4% stake in Spain's Naturgy through an accelerated bookbuilt offering, a market filing showed on Monday.
BlackRock sells remaining stake in Spanish energy firm Naturgy
BlackRock's Exit from Naturgy: Key Details and Background
By Pietro Lombardi
Details of the Stake Sale
MADRID, March 3 (Reuters) - BlackRock sold its remaining 11.4% stake in Spanish energy firm Naturgy for 2.79 billion euros ($3.25 billion), a market filing showed on Tuesday.
Share Price and Transaction Management
The investment company disposed of 110,753,554 shares at 25.20 euros apiece, compared with Naturgy's closing price of 26.76 euros on Monday.
BlackRock had appointed J.P. Morgan and Goldman Sachs to manage the sale through an accelerated bookbuild.
Background on BlackRock's Investment in Naturgy
Previous Stake Sale
In December, the firm had sold roughly 7% stake in Naturgy for $2 billion.
Entry into Naturgy
BlackRock became a shareholder in the utility following its 2024 acquisition of Global Infrastructure Partners, which previously held a stake in Naturgy.
Additional Information
($1 = 0.8572 euros)
(Reporting by Pietro Lombardi; Editing by Sumana Nandy, Tomasz Janowski and Paul Simao)
