BlackRock Sells 7% Stake in Naturgy for Nearly $2 Billion [Yahoo! Finance]
NATURGY ENERGY GRP U/ADR (GASNY)
NASDAQ:AMEX Investor Relations:
gasnaturalfenosa.com/en/1285338472944/shareholders+and+investors.html
Company Research
Source: Yahoo! Finance
approximately 1.7 billion euros ($1.99 billion) in an accelerated placement managed by JPMorgan. The transaction involved 68,825,911 shares priced at 24.75 euros, representing a 5.4% discount to Naturgy's previous closing price of 26.16 euros. Naturgy shares fell about 5% in early trading following the announcement. Warning! GuruFocus has detected 9 Warning Signs with BLK. Is BLK fairly valued? Test your thesis with our free DCF calculator. The sale reduces BlackRock's position in Naturgy to about 11.42%, making it the company's fourth-largest shareholder. BlackRock became an investor in Naturgy through its 2024 acquisition of Global Infrastructure Partners. Criteria Caixa remains the top shareholder with nearly 24%, followed by CVC with 18.6% and IFM with 15.2%. Analysts at Sabadell said the transaction removes the possibility of a new investor entering the shareholder base and could clear the way for a future exit by CVC. The deal also moves Naturgy closer to its target free
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