Zara founder Ortega buys 5% of Spanish gas company Enagas [Reuters]
ENAGAS SA UNSP/ADR (ENGGY)
NASDAQ:AMEX Investor Relations:
enagas.es
Company Research
Source: Reuters
Zara founder Ortega buys 5% of Spanish gas company Enagas MADRID, Dec 19 (Reuters) - Inditex founder Amancio Ortega has bought a 5% stake in Enagas, which owns and operates Spain’s gas grid, the energy company said in a statement on Thursday. The Spanish billionaire took the holding in Enagas through his investment vehicle Pontegadea, which took part in an Enagas capital hike, buying shares worth 282 million euros ($311 million) according to Reuters calculations. Enagas raised fresh capital after U.S. gas pipeline operator Tallgrass Energy accepted a $6.3 billion offer from a consortium of which the Spanish energy group is part. Ortega’s Pontegadea owns a 50.01% stake in Zara fashion store owner Inditex, as well as investments worth billions of euros in prime office and shopping districts. These are largely debt-free purchases using dividend payouts from Inditex. Pontegadea has bought infrastructure assets in the past, including a 10% stake in Telxius, which owns telecommunication tow
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