Naturgy Shares Drop After BlackRock Offloads Part of Stake
By Joshua Kirby and Aimee Look
Shares in Spanish energy group Naturgy sank after major investor BlackRock sold off part of its stake in the company.
BlackRock's Global Infrastructure Partners sold a 1.7 billion-euro ($1.99 billion) stake in Naturgy, according to a regulatory filing. The fund is one of the largest shareholders in Naturgy, according to FactSet data.
BlackRock declined to comment on the stake sale. Spokespeople for Naturgy didn't immediately respond to a request for comment.
In early trading Thursday, Madrid-listed shares in Naturgy traded 5.3% lower at 24.78 euros.
The sale via accelerated book-build accounts for approximately 7.1% of Naturgy's share capital, the Spanish market regulator said. After the sale, GIP will still retain an 11.42% stake in Naturgy, which will be subject to a 90-day lockup period, according to the filing.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby and to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
December 11, 2025 03:57 ET (08:57 GMT)
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