Canada Pension Plan Board Weighs Sale of Nedgia Stake
The Canada Pension Plan Investment Board is considering selling its 12 percent stake in Nedgia, Spain's largest gas distributor.
Canada Pension Plan Investment Board is weighing the sale of its 12 percent stake in Nedgia, the largest gas distributor in Spain. The investment board acquired the position for 900 million euros in 2018 through a joint vehicle with Allianz, which currently holds an eight percent share.
The potential divestment comes after the Comisión Nacional de los Mercados y la Competencia approved a new regulatory and remuneration framework for the natural gas sector covering 2027 to 2032. Nedgia was originally spun off from Naturgy Energy Group SA, which maintains 80 percent ownership of the grid.
The gas network serves more than 5.5 million supply points across 1,222 municipalities. Discussions regarding the sale remain in the early stages, and the investment board may ultimately decide to retain its holding.
