Ashurst advises Enagás on its agreement to acquire a 31.5% stake in Teréga

Ashurst has advised Enagás, Spain's leading gas transmission system operator, on its agreement to acquire a 31.5% stake in Teréga, a French gas infrastructure operator, from GIC. Teréga operates approximately 5,100 km of gas pipelines and two underground storage facilities in southwestern France. The transaction is subject to customary closing conditions and is expected to complete during 2026.

The Ashurst team advising Enagás was led by Charles-Douglas Fuz (Partner, M&A) in Paris, with the support in Paris of Louis Rainguenet (Senior Associate, M&A), Christophe Lemaire (Partner, Competition), Irene Madero (Senior Associate, Competition), Orphée Janaud (Associate, Projects and Energy), Pierre Roux (Partner, Finance), Annissa Baghafor (Associate, Finance), Philippe None (Partner, Real Estate), Manon Bucaille (Associate, Real Estate), Muriel Pariente (Partner, Employment), Jordan Cohen (Senior Associate, Employment), Gabriella Martinis and Jonas Derisbourg (Associates, Employment).

Working alongside the Paris team, Andrés Alfonso (Partner, Corporate M&A/Energy Transition) led the Madrid team, with the support of Isabel Matute (Senior Associate, Corporate M&A), Alfonso González-Espejo (Counsel, Public Law), Soledad Adell (Senior Associate, Public Law), Rafael Baena (Partner, Competition), Javier Torrecilla (Counsel, Competition), Teresa Prado (Associate, Competition).