Private equity firm exits Spanish utility weeks after BlackRock sold its entire holding in the company.
CVC Capital Partners sold an 11.08% stake in Naturgy for €3.07 billion ($3.57 billion), completing its exit from the Spanish energy group. The sale follows BlackRock’s full divestment from Naturgy earlier this month, signaling reduced institutional exposure to the utility sector.
The transaction values Naturgy at approximately $32.2 billion based on the stake sold. CVC’s Rioja Acquisition vehicle executed the sale, marking the latest in a series of portfolio adjustments by major private equity firms amid shifting energy market dynamics.
No immediate market reaction was reported following the announcement.