The government requires BlackRock not to take Naturgy private, not to sell its networks and to keep its headquarters and most of its employees in Spain.

The government allowed BlackRock, the world’s largest fund manager, to enter Naturgy as one of its major shareholders. Last September, the Council of Ministers approved the request of the firm led by Larry Fink to acquire the GIP fund, which is one of the main partners of the Spanish energy company with 20.6% of the capital (later it turned out that it already controls 20.9% after combining the stakes of both companies). BlackRock officially closed the operation on October 1, but to do so it had to accept a number of obligations imposed by the Spanish government.

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