Naturgy has entered a new phase as BlackRock, the world's largest asset manager, has divested its remaining 11.4% stake in the company. This comes on the heels of BlackRock's earlier sale of 7.1% of its shares in December, marking a complete departure from Naturgy's ownership. The rapid sale was executed through the U.S. fund GIP, which purchased the shares in early 2024. BlackRock's exit opens the way for other investors, notably CriteriaCaixa, which is the largest shareholder in Naturgy and has significantly increased its own stake.

In a strategic move, CriteriaCaixa has acquired an additional 2.5% of Naturgy for €611 million, raising its total ownership to 28.5%. This notable investment reflects Criteria's confidence in Naturgy's future and aligns with the holding's strategic aims. The increased shareholding indicates a stronger commitment to the energy company, which is undergoing significant transformations in its operations and governance.

With BlackRock no longer part of the equation, the dynamics of shareholder influence within Naturgy may shift. Criteria's bolstered position could lead to a more strategic oversight of Naturgy's direction and potentially introduce changes to its policies and practices. This significant evolution in shareholder structure could also affect investor sentiment and market perception of Naturgy as it navigates through this new chapter amidst changing energy landscapes in Spain and beyond.