BlackRock-owned GIP sells 7.1% stake in Naturgy in accelerated placement

"Uría Menéndez advised GIP III Canary (a BlackRock-owned fund) on an accelerated bookbuilt offering selling 68,825,911 Naturgy ordinary shares (≈7.10% of capital) at €24.75 per share for over €1.7bn, reducing GIP's stake to 11.4%. The placement leaves Criteria Caixa near 24%, CVC 18.58% and IFM 15.2%."

Uría Menéndez advised GIP III Canary, the BlackRock‑owned fund, on its accelerated bookbuilt offering. GIP III Canary placed 68,825,911 ordinary shares of Naturgy Energy Group, representing approximately 7.10% of Naturgy’s share capital, at a sale price of €24.75 per share. The transaction is valued at more than €1.7 billion and will reduce the fund’s stake in Naturgy to 11.4%. The accelerated placement leaves Criteria Caixa as the principal shareholder with almost 24%, CVC with 18.58% and IFM with 15.2%. Uría Menéndez represented GIP III Canary with a team composed by: 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).

BlackRock-owned GIP sells 7.1% stake in Naturgy in accelerated placement

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