Enagás agreed to acquire a 31.5% stake in Teréga, one of France's two gas transmission system operators, from Singapore sovereign fund GIC for €573m, it said on 21 April.
Why Enagás, S.A. is buying Teréga (31.5% stake)
Enagás said the deal is fully aligned with its strategic plan, improves its growth profile and supports its dividend policy. Teréga's network is linked to Enagás's through the two cross-border interconnections at Irún and Larrau.
Deal terms and financing
Enagás paid €573m for GIC's 31.5% holding. On the same day it completed the sale of 40% of Enagás Renovable to Hy24 for €48m, keeping a 20% stake in its renewable gases subsidiary.
Regulatory approvals and timing
The acquisition required regulatory approvals including EU merger clearance. Enagás informed Spain's CNMV that it had completed the deal, as reported on 30 July 2026.
Market context
Teréga operates about 5,100km of pipelines and two underground storage sites in south-west France, representing about 16% of the French gas transmission network and 27% of national storage capacity. Its other shareholders are Snam with 40.5%, EDF Invest with 18% and Crédit Agricole with 10%.
