CVC Capital Partners has successfully sold its entire 13.8% stake in Naturgy, a leading Spanish energy firm, for approximately €4 billion. The transaction was facilitated by Goldman Sachs, which acted as the sole bookrunner for the private placement. This involved offering 107.5 million shares, representing 11.08% of Naturgy, at a price of €28.55 per share, which included a discount of 4.64%. Additionally, CVC settled pre-existing derivative transactions to sell an extra 26.4 million shares, equating to around 2.72% of Naturgy. The placement was primarily aimed at institutional investors and was reportedly oversubscribed, reflecting a robust interest in the energy sector. CVC first invested in Naturgy in 2018, and this divestment follows a similar move by BlackRock, which sold its remaining 11.4% stake in Naturgy earlier this year for €2.79 billion. This trend indicates a significant shift in investment strategies within the energy market.