Naturgy sinks in the stock market after BlackRock announced that it is divesting 7.1% of its capital in the energy company
Earthquake in the Naturgy price. Energy shares fell sharply this Thursday, after the Global Infrastructure Partners (GIP) fund, controlled byr BlackRock, one of the largest asset managers in the world, announced on Wednesday afternoon that it is divesting 7.10% of its capital in the company, a stake that would be valued at nearly 1.8 billion euros at the last closing price.
After the first hour of trading, Naturgy shares fell 5.3% on the Ibex 35 to 24.78 euros and erased practically all the progress made so far this year. At this time, the Spanish selective index is practically trading in tables at around 16,747 points.
Following this divestment reported yesterday to the National Securities Market Commission (CNMV), the New York-based fund pwill go from controlling 18.5% of Naturgy’s capital to 11.4%while CriteriaCaixa will maintain 24%. The sale, aimed exclusively at qualified investors, is articulated through a placement coordinated by JP Morgan.
In the accelerated placement, the GIP fund, controlled by BlackRock, has sold 68.8 million shares of the company, representing approximately 7.10% of the share capital, at a price of 24.75 euros per share, as Naturgy reported to the CNMV this Thursday.
Following the settlement of the Accelerated Placement, the fund will hold 110.7 million shares of the company, representing approximately 11.42% of Naturgy’s share capital, which will be subject to a 90-day lock-up commitment, subject to the usual exceptions applicable to this type of transaction.
The company led by Francisco Reynés recorded a record profit of 1,668 million until September of this yearwith a growth of 5.6% compared to the previous year, estimating historical benefits for the end of 2025.
