Criteria lifts Naturgy stake to 28.5% after buying 2.5% from BlackRock

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MADRID, March 3 (Reuters) - Spain's Criteria has bought a 2.5% stake in energy firm Naturgy NTGY.MC for 611 million euros, lifting its holding to 28.5%, the Spanish holding company said on Tuesday.

The Spanish company, which remains the largest shareholder in Naturgy, snapped up this stake after partially taking part in an accelerated bookbuild placement of a 11.4% stake in Naturgy on Monday.

The sale was managed by JP Morgan and Goldman on behalf of BlackRock for 2.79 billion euros, or 25.20 euros per share, a 5.8% discount to Monday's closing price of Naturgy.

BlackRock became a shareholder in Naturgy through its 2024 acquisition of Global Infrastructure Partners (GIP), which had previously invested in the utility.

Among significant shareholders, Australian fund IFM has a 15.5% stake in Naturgy while private equity company CVC holds 13.8%. Holding company Alba has a 5% stake.

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