Repsol Streamlines Non-Strategic Asset Base, Sells CLH Stake
Repsol announced Friday that it has reached an agreement to sell its 10 percent stake in Compania Logistica de Hidrocarburos to Ardian, for $362 million, as part of a program that is designed to streamline its non-strategic asset portfolio.
The program was launched after the acquisition of Talisman Energy, which “significantly increased production and the quality and quantity of Repsol’s asset base”, according to Repsol. The sale of CLH will generate a capital gain for Repsol of 300 million euros.
Before selecting the winning bid, Repsol “carried out an extensive process involving almost 150 potential investors, generating significant interest and competition”.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
- Repsol Says Drilling Suspended On Vietnam Oil Block Disputed By China (Aug 02)
- China Urges Halt To Oil Drilling In Disputed South China Sea (Jul 25)