CVC Sells Naturgy Stake for $3.57 Billion
By Adria Calatayud
Buyout group CVC Capital Partners sold its stake in Naturgy Energy Group, raising 3.07 billion euros ($3.57 billion), weeks after BlackRock exited its entire investment in the Spanish energy group.
Rioja Acquisition, a company controlled by CVC, sold shares representing an 11.08% stake in Naturgy at 28.55 euros apiece, bookrunner Goldman Sachs Bank Europe said Wednesday. The price represents a 4.6% discount to Naturgy's closing price on Tuesday.
The sale means CVC has offloaded its entire 13.8% stake in Naturgy, Goldman Sachs Bank Europe said. CVC settled certain financial contracts with Goldman Sachs Bank Europe, resulting in the sale of an additional 2.72% stake in Naturgy, the bank added.
As of March, before the share sale, CVC was the second-biggest shareholder in Naturgy, according to the Spanish company's website.
The move from CVC comes after a BlackRock-owned fund in March sold its entire stake in Naturgy, raising $3.3 billion.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
May 27, 2026 02:20 ET (06:20 GMT)
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