Enagas SA (ES:ENG) has released an update.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Enagás, S.A. has agreed to sell its 30.2% stake in Tallgrass Energy to Blackstone Infrastructure Partners for $1.1 billion, which is part of its strategic plan focusing on decarbonization and supply security through investments in renewable hydrogen infrastructure. The deal, expected to close by the end of July, will result in an accounting loss but significantly improve the company’s cash flow and support its dividend policy and long-term sustainability.
For further insights into ES:ENG stock, check out TipRanks’ Stock Analysis page.
