News Oil & Gas

Spain’s Repsol sells 25% in oil and gas unit to EIG for $4.8 bln


A man walks past the logo of Spanish oil major Repsol at its headquarters in Madrid, Spain, February 25, 2016. REUTERS/Juan Medina/File Photo

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MADRID, Sept 7 (Reuters) – Spanish energy company Repsol (REP.MC) said on Wednesday it has agreed to sell a 25% stake in its oil and gas exploration and production business to U.S. fund EIG for $4.8 billion including debt.

The process started with an unsolicited offer from EIG, sources told Reuters earlier this year. read more

The deal values the whole unit at $19 billion, Repsol said in a statement.

($1 = 1.0113 euros)

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Reporting by Isla Binnie, editing by Inti Landauro

Our Standards: The Thomson Reuters Trust Principles.



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