Blackstone to Buy Enagas’s Tallgrass Stake for $1.1 Billion (2)

Spanish gas network operator Enagas SA will sell its 30% stake in US pipeline firm Tallgrass Energy to Blackstone Infrastructure Partners for $1.1 billion.

The transaction is expected to be closed at the end of July, Enagas said in a regulatory filing. The sale is part of Enagas’ strategy to decarbonize and boost security of energy supply in Spain and Europe, the company said.

Enagas shares rose as much as 5.7% in Madrid trading, the biggest intraday gain since January 2021.

Tallgrass operates pipelines, storage sites and terminals across the US Midwest, transporting as much as 10.3 billion cubic ...