ENGGY Enagas SA (PK)

By Jonathan House

MADRID--Spanish bank Liberbank S.A. has sold its 5% stake in Spanish gas grid operator Enagas S.A. (ENG.MC) to institutional investors for EUR182.64 million, the bank arranging the transaction said in a filing to Spain's stock market regulator Thursday.

The Enagas shares were sold at EUR15.3 a share, Barclays Bank PLC said, a price that represents a 4.5% discount to their Wednesday closing level.

As they struggle with the bust of a decadelong housing boom, Spanish banks are under pressure to raise capital. Liberbank was one of seven institutions to fail a recent stress test conducted by U.S. consultancy Oliver Wyman. The test indicated that Liberbank needs to raise EUR2.108 in new capital.

In September, another three savings banks--Caja Murcia, Caja Granada and Caja Castilla-La Mancha--sold their combined 5% stake in Enagas.

Write to Jonathan House at jonathan.house@dowjones.com