Nov 5 (Reuters) - BlackRock ( BLK ) committed not to
support a delisting of Spanish utility Naturgy for at
least three years to win government approval for its acquisition
of a stake in the group, a stock market filing by the U.S. fund
manager showed.
In the filing BlackRock ( BLK ) also committed to support Naturgy's
investment plans and presence in Spain - including its
headquarters - and a "prudent dividend policy".
BlackRock ( BLK ) took over the 20.64% stake in Naturgy when it
agreed earlier this year to buy infrastructure fund Global
Infrastructure Partners, Naturgy's third largest shareholder, in
a $12.5 billion deal.
In the filing, BlackRock ( BLK ) said it was forced to take those
commitments by the Spanish government, which has the right to
block or put conditions on the acquisition of large stakes in
listed Spanish companies.
The government approved the deal in September.