BlackRock puts 7.1% of its stake in Naturgy up for sale: Advisors

GIP (a fund owned by BlackRock) is putting 7.10% of Naturgy’s capital up for sale for over €1.7 billion, which will bring its stake to 11.4%.

Specifically, the fund is selling 68,825,911 ordinary shares of Naturgy Energy Group, representing approximately 7.10% of Naturgy’s share capital. The sale price is €24.75 per share.

This accelerated placement process leaves Criteria Caixa as the main shareholder with almost 24%; CVC with 18.58% and IFM with 15.2%.

Advisors

Uría Menéndez advised GIP III Canary on its accelerated bookbuilt offering with a team comprising Javier Redonet Sánchez del Campo (partner, Capital Markets), Alfonso Bernar Fernández-Roca (managing associate, Capital Markets), José Ignacio Baus Garcés (senior associate, Capital Markets), Lucía Berricano Bayón (junior associate, Capital Markets), Fedir Ragulin (junior associate, Capital Markets). All from the Madrid team.