Zara founder buys 5% in Enagas' renewables unit

Spanish gas grid operator Enagas SA (BME:ENG) said today that it has sold a 5% stake in its renewable gases subsidiary Enagas Renovable to Pontegadea Group.

Pontegadea, the investment vehicle of Spanish billionaire businessman and founder of the fashion brand Zara Amancio Ortega, acquired its position for an undisclosed amount.

The transaction comes a week after Enagas announced closing the sale of a 30% stake in the renewables unit to Hy24, a clean hydrogen joint venture owned by Ardian and FiveT Hydrogen.

The two sales left Enagas in control of 65% of Enagas Renovable.

Pontegadea started making investments in renewables in late 2021, when it acquired a 49% stake in the 335-MW Delta wind farm in Spain from multi-energy group Repsol SA (BME:REP).

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