MADRID: Mexico’s national oil company Pemex has sold the bulk of its stake in Spain’s Repsol for 2.09 billion euros (US$2.9bil), ending a more than 25 year partnership and freeing up cash to invest in its own energy sector.
Pemex sold 7.86% of Repsol to unspecified private investors yesterday at 20.10 euros each, a 3.7% discount to the Spanish company’s closing price on Tuesday, in a placement handled by book runners Citigroup and Deutsche Bank. — Reuters
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
