Abu Dhabi National Energy Company PJSC (TAQA) has confirmed it has ended talks with Spanish group Criteria Caixa to jointly take over Spanish gas and power firm Naturgy Energy Group.

TAQA, which was holding discussions with private equity investment firms GIP and CVC to acquire their shares in Naturgy, said in a statement to Abu Dhabi Securities Exchange on Tuesday that the talks have ended and "a transaction will not take place".

The company did not disclose a reason for ending the bid.

Criteria owns approximately 27% of Naturgy, and GIP and CVC each own about 20%.

(Writing by Brinda Darasha; editing by Seban Scaria)