CPPIB said to explore sale of stake in Spain’s largest gas grid

Skip to Content News Archives Economy Defence Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Defence Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Defence Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeCommoditiesOil & GasNewsCPPIB said to explore sale of stake in Spain’s largest gas gridDeliberations are early and CPPIB may decide not to go ahead with the divestmentAuthor of the article:Andrés González and Thomas GualtieriCPP Investments signage during an interview for an episode of Bloomberg Wealth with David Rubinstein in New York on July 10, 2024. Photo by Jeenah Moon/BloombergCanada Pension Plan Investment Board is weighing a sale of its 12 per cent stake in Spain’s largest gas distributor, according to people with knowledge of the matter.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountCPPIB has been in talks with financial advisers over the potential sale of its stake in Nedgia, which it bought for €900 million (US$1 billion) in 2018, the people said, asking not to be named, as the matter isn’t public. Deliberations are still at an initial stage and CPPIB may decide not to go ahead with the divestment, the people said.This advertisement has not loaded yet, but your article continues below.Spokespeople for CPPIB, Nedgia and Naturgy declined to comment.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againNedgia was created in 2018, when it was spun off from Naturgy Energy Group SA, which still owns 80 per cent. At the time, CPPIB bought its 12 per cent while Allianz acquired eight per cent. The two funds own their stakes through a joint investment vehicle.A sale by CPPIB would come shortly after the Spanish energy markets authority CNMC approved a new regulatory and remuneration framework for Spain’s natural gas sector covering the 2027–2032 period.Nedgia’s grid is connected to more than 5.5 million supply points in 1,222 municipalities, according to its website.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.