State Grid International Development to acquire a 96% stake in CGE from Naturgy $3bn.

State Grid International Development, an investment holding company that invests in overseas electric power project development and operation industries, agreed to acquire a 96% stake in Compania General De Electricidad, the electricity grids of Naturgy, a Spanish energy company, for $3bn. “The transaction proves Naturgy’s capacity and patience to perform transactions that obtain the utmost value for its shareholders. It also marks an important step in the company’s transformation and its future asset portfolio. We are increasing our financial capacity, which will allow us to take on growth opportunities linked to the energy transition," Francisco Reynés, Naturgy President.