BlackRock raises its stake in Enagas to 5.565%
US investment fund BlakRock has raised its stake in the share capital of Spanish gas system operator Enagás to 5.565%, according to the records of the Spanish National Securities Market Commission (CNMV).
Specifically, BlackRock has increased its stake from 5.002% at the beginning of this week to the current 5.565%, thanks to the increase in the voting rights it holds through various financial instruments.
As of today, the US fund indirectly controls 4.022% of Enagás’ capital, as well as additional percentages of 0.757% and 0.786% as holder of financial instruments that confer rights on Enagás shares, or are referenced to them.
Overall, BlackRock has nearly 262 million voting rights in the national gas operator, its highest since it became a shareholder in 2017, six years ago.
The US fund is thus Enagás’ largest shareholder, ahead of the Sociedad Estatal de Participaciones Estatales (SEPI) and Pontegadea, the investment arm of Amancio Ortega, both with 5% of the capital.
Enagás’ bylaws stipulate that no shareholder may hold more than 5%, a limitation that BlackRock complies with, as it does not take into account voting rights through financial instruments, which in its case amount to 1.543%.
Enagás’ share capital also includes Bank of America (3.614 %) and the Abu Dhabi sovereign wealth fund Mubadala (3.103 %).
