Abu Dhabi National Energy Company PJSC, commonly known as Taqa, has begun discussions to acquire a stake in Spain’s Naturgy Energy Group SA. Taqa’s chairman, Mohamed Hassan Alsuwaidi, who also serves as the UAE Minister of Investment, visited Spain to meet with executives from CriteriaCaixa SA, Naturgy’s largest shareholder, to explore potential investment opportunities.

This renewed dialogue comes after previous attempts by Taqa to collaborate with CriteriaCaixa in acquiring a stake in Naturgy, which did not lead to an agreement. Naturgy faces challenges due to its complex shareholder structure, which includes notable stakeholders such as CVC Capital Partners Plc, BlackRock Inc.’s Global Infrastructure Partners, and IFM Global Infrastructure LP, complicating the company’s strategic initiatives.

Taqa’s interest in Naturgy reflects its ongoing pursuit of growth opportunities in the energy sector, aiming to expand its portfolio internationally. The outcome of these discussions could significantly impact Taqa’s strategic direction and investment landscape in the European energy market.