MADRID, March 3 (Reuters) - Spain's Criteria has bought a 2.5% stake in energy firm Naturgy for 611 million euros, lifting its holding to 28.5%, the Spanish holding company said on Tuesday. The
Criteria Increases Naturgy Stake to 28.5% With €611M BlackRock Acquisition
Details of Criteria's Increased Stake in Naturgy
Acquisition Overview
MADRID, March 3 (Reuters) - Spain's Criteria has bought a 2.5% stake in energy firm Naturgy for 611 million euros, lifting its holding to 28.5%, the Spanish holding company said on Tuesday.
Transaction Process
Accelerated Bookbuild Placement
The Spanish company, which remains the largest shareholder in Naturgy, snapped up this stake after partially taking part in an accelerated bookbuild placement of a 11.4% stake in Naturgy on Monday.
Sale Management and Pricing
The sale was managed by JP Morgan and Goldman on behalf of BlackRock for 2.79 billion euros, or 25.20 euros per share, a 5.8% discount to Monday's closing price of Naturgy.
Background and Shareholder Structure
BlackRock's Entry via GIP Acquisition
BlackRock became a shareholder in Naturgy through its 2024 acquisition of Global Infrastructure Partners (GIP), which had previously invested in the utility.
Other Major Shareholders
IFM, CVC, and Alba Holdings
Among significant shareholders, Australian fund IFM has a 15.5% stake in Naturgy while private equity company CVC holds 13.8%. Holding company Alba has a 5% stake.
(Reporting by Jesús Aguado; editing by Pietro Lombardi)
