Ashurst advises Enagás on 31.5% Teréga stake acquisition
Ashurst has advised Enagás on its agreement to acquire a 31.5% stake in Teréga, a French gas transmission system operator (TSO), from Singapore’s sovereign wealth fund GIC. The transaction is subject to customary closing conditions and is expected to complete during 2026.
Teréga operates approximately 5,100 kilometres of gas pipelines and two underground storage facilities in south-west France, making it a significant infrastructure asset in the European energy landscape.
According to the law firm, the acquisition reinforces Enagás’s position as a key player in European gas infrastructure. Teréga’s network in south-west France also holds strategic relevance as a corridor connecting the Iberian Peninsula to the broader European gas grid.
Advisory teams
The Ashurst Madrid team was led by Andrés Alfonso (partner, Corporate M&A/Projects and Energy Transition), supported by Isabel Matute (senior associate, Corporate M&A), Alfonso González-Espejo (counsel, Public Law), Soledad Adell (senior associate, Public Law), Rafael Baena (partner, Competition), Javier Torrecilla (counsel, Competition) and Teresa Prado (associate, Competition).
The Ashurst Paris team was led by Charles-Douglas Fuz (partner, Corporate M&A), with support from Louis Rainguenet (senior associate, Corporate M&A), Christophe Lemaire (partner, Competition), Irene Madero (senior associate, Competition), Orphée Janaud (associate, Projects and Energy Transition), Pierre Roux (partner, Finance), Annissa Baghafor (associate, Finance), Philippe None (partner, Real Estate), Manon Bucaille (associate, Real Estate), Muriel Pariente (partner, Employment), Jordan Cohen (senior associate, Employment) and Gabriella Martinis and Jonas Derisbourg (associates, Employment).
