BlackRock to sell its 11.4% stake in Spanish energy firm Naturgy (updated)

Naturgy Energy

02/03/2026 19:11

Recasts with results of accelerated bookbuild offering

By Pietro Lombardi

MADRID, March 3 (Reuters) - BlackRock BLK.N sold its remaining 11.4% stake in Spanish energy firm Naturgy NTGY.MC for 2.79 billion euros ($3.25 billion), a market filing showed on Tuesday.

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.

In December, the firm had sold roughly 7% stake in Naturgy for $2 billion. BlackRock became a shareholder in the utility following its 2024 acquisition of Global Infrastructure Partners, which previously held a stake in Naturgy.

($1 = 0.8572 euros)

 (Reporting by Pietro Lombardi; Editing by Sumana Nandy, Tomasz Janowski and Paul Simao)

 ((Pietro.Lombardi@thomsonreuters.com;))