Energy Taqa confirms potential buyout of Spain’s Naturgy By Pramod Kumar April 18, 2024, 4:45 AM REUTERS/Susana Vera A worker stands next to the entrance of the Spanish energy company Naturgy headquarters in Madrid, Spain, on April 16, 2024 Abu Dhabi National Energy Company (Taqa) has confirmed that it is holding talks with the three biggest shareholders of Spanish energy company Naturgy. In a statement published on the Abu Dhabi Securities Exchange, Taqa said it is holding talks with Criteria Caixa, which has a 26.7 percent stake in Naturgy. Discussions are also ongoing with private equity players Global Infrastructure Partners (GIP) and CVC Capital Partners, who each own a 20 percent stake in the Spanish energy major. NewsletterGet the Best of AGBI delivered straight to your inbox every week “If such an acquisition occurs, this would trigger an offer for all the shares of Naturgy,” Taqa said. No agreement has been reached with Criteria Caixa, CVC or GIP. Moreover, Taqa has not approached Naturgy, the filing said. Taqa energy company doubles earnings in 2023 Taqa to sell entire stake in Kurdistan oilfield Taqa lists $1.5bn green bonds on Abu Dhabi exchange In February, Taqa said its net income more than doubled to AED17 billion ($4.6 billion) in 2023. The higher income was driven by a one-off gain of nearly AED11 billion recognised on the acquisition of a five percent shareholding in Adnoc Gas. The company has earmarked an investment worth AED75 billion into power and water capacity expansion and UAE-based transmission and distribution networks by 2030.