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Inditex founder overtakes BlackRock as biggest private investor in Red Electrica

MADRID, July 29 (Reuters) - Inditex founder Amancio Ortega has overtaken BlackRock as the biggest private investor in Spanish electricity grid operator Red Electrica with a 5% stake, according to data from Spain’s market supervisor published on Thursday.

Though Ortega did not disclose when he had bought more than 27 million shares in Red Electrica, nor at what price, a 5% stake in Red Electrica is worth more than 455 million euros ($540.9 million) at current market prices.

Ortega acquired the stake through his investment vehicle Pontegadea, which controls a 59.29% stake in Zara fashion store owner Inditex and manages a portfolio of property investments.

New York-based BlackRock has a 3.04% stake in Red Electrica while Spanish state-owned industrial holding SEPI owns 20%, according to the supervisor CNMV.

Ortega’s investment arm also holds a 5% stake in Spanish gas company Enagas.

$1 = 0.8413 euros Reporting by Corina Pons; editing by Jesús Aguado, Kirsten Donovan

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