12/19/2019, 11:27 AM (Source: TeleTrader)
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Inditex founder buys 5% stake in Spanish Enagas

Industria de Diseno Textil S.A., or Inditex, founder Amancio Ortega acquired a 5% stake of Spanish gas company Enagas S.A., the latter announced on Thursday.

The transaction will be completed through Pontegadea, a company also owned by Ortega. The 5% stake, valued at €281.64 million, would make him the largest shareholder of Enagas, according to Spanish media.

Enagas revealed earlier this week that it will invest $836 million in United States-based oil and gas infrastructure company Tallgrass Energy LP.

Breaking the News / MS