Long‑term investors who jumped into Spain’s big natural‑gas distributors over a decade ago are now stirring. Several shareholders of Madrileña Red de Gas, one of the country’s four major gas‑distribution firms, have started looking for an adviser to kick off a sale of the company. The move comes after the remuneration framework for the next six years was finally set, giving the owners a clear financial picture. Sources close to the matter say the board wants to launch the process soon, hoping to fetch around €2 billion. If the deal goes ahead, it could reshape the Spanish gas‑distribution landscape and return a hefty payoff to those early backers.