CPPIB analiza la venta de su 12% en la distribuidora de gas de Naturgy

The Canada Pension Plan Investment Board (CPPIB) is evaluating the sale of its 12% stake in Nedgia, the leading natural gas distributor in Spain, according to Bloomberg citing sources familiar with the matter. The North American agency reported that CPBB has been in discussions with financial advisors about potentially selling its stake in Nedgia, which it acquired in 2018 for 900 million euros, according to the sources.

The deliberations are still in the initial stages and CPPIB may ultimately decide not to proceed with the divestment, the sources added. CPBB, Nedgia, and Naturgy all declined to comment to the agency. Nedgia was created in 2018 when it spun off from Naturgy, which still holds an 80% stake. At that time, CPBB purchased a 12% stake in the company, while Allianz acquired an 8%.

Both funds maintain their holdings through a joint investment vehicle. CPBB's potential sale would come shortly after the CNMC approved a new regulatory and remuneration framework for Spain's natural gas sector for the period 2027-2032. Nedgia's distribution network is connected to over 5.5 million supply points spread across 1,222 municipalities, according to the information released.