Clifford Chance advised Corporación Financiera Alba on the reorganisation of its investment structure with CVC in Naturgy and the renewal of the shareholders’/partner agreement with CVC (19 December 2025).
Under the new structure, Alba now holds a direct 5.01% stake in Naturgy, while Rioja Investments S.à r.l. (mainly owned by CVC Funds) retains 13.80%; the changes are intended to provide greater flexibility without changing the investment’s governance or joint objectives.
The matter was handled by a cross-border Clifford Chance team across Madrid and Luxembourg, led by counsel Miguel Barredo, with additional support on tax and regulatory aspects.
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Clifford Chance advises Corporación Financiera Alba on reorganisation of investment structure with CVC in Naturgy | The Sponsor - The Sponsor
