Finance
BlackRock appoints banks to sell 11.4% stake in spain's naturgy
Published by Global Banking & Finance Review®
Posted on March 2, 2026
1 min readLast updated: March 2, 2026
Quick Summary
BlackRock has hired J.P. Morgan and Goldman Sachs to conduct an accelerated bookbuild offering to sell an 11.4% stake in Spain’s Naturgy, reducing its holding while boosting free float and liquidity.
BlackRock to sell its 11.4% stake in Spanish energy firm Naturgy
BlackRock's Divestment from Naturgy
Details of the Stake Sale
MADRID, March 2 (Reuters) - BlackRock has appointed J.P. Morgan and Goldman Sachs to sell its remaining 11.4% stake in Spanish energy firm Naturgy through an accelerated bookbuild offering, a market filing showed on Monday.
Previous Transactions
BlackRock in December sold a roughly 7% stake in Naturgy for $2 billion. The investment company became a shareholder in Naturgy through its 2024 acquisition of Global Infrastructure Partners, which had previously invested in the utility.
Reporting Credits
(Reporting by Pietro Lombardi; Editing by Tomasz Janowski and Paul Simao)
Key Takeaways
- •BlackRock is reducing its Naturgy stake via an accelerated bookbuilt offering led by J.P. Morgan and Goldman Sachs, bringing its ownership to approximately 11.4% (investing.com).
- •The divestment follows a December 2025 sale of 7.1% stake at €24.75/share (5.4% discount), raising around €1.7 billion and increasing Naturgy’s free float to over 25% (investing.com).
- •The transaction reshuffles Naturgy’s shareholder base: BlackRock becomes the fourth-largest, behind CriteriaCaixa (~24–26%), CVC (~18–19%), and IFM (~15%), enhancing stock liquidity and index eligibility (whbl.com)
References
Frequently Asked Questions about Blackrock appoints banks to sell 11.4% stake in Spain's Naturgy
1Who did Blackrock appoint to handle the Naturgy stake sale?
Blackrock appointed J.P. Morgan and Goldman Sachs to handle the sale of its 11.4% stake in Naturgy.
2How much of Naturgy is Blackrock selling?
Blackrock is selling an 11.4% stake in Spain's Naturgy.
3What method is being used to sell the Naturgy shares?
The sale is taking place through an accelerated bookbuilt offering.
4Which country is the Naturgy stake sale taking place in?
The Naturgy stake sale is taking place in Spain.
5Where was the Blackrock Naturgy stake sale reported?
The sale was reported in a market filing and covered by Reuters.
