Repsol has reached an agreement to sell its 20.072% stake in Gas Natural to Rioja Bidco Shareholdings, a company owned by funds advised by CVC. The sale price was 3.8 billion euros and the transaction will provide the oil company with approximately 400 million euros of capital gains.
repsol gas natural
Mari Pinardo / Julia Pastor | At the start of this year, Repsol launched an ambitious Strategic Plan to allow the Company to eliminate its debt and weather the storm of low oil prices. The plan includes: divesting non-core assets for a total of 3.100 billion euros via a series of deals, one of which was the possible sale of its Gas Natural stake. The chance came along and on Monday Repsol announced it has agreed to sell 10% of its stake in the gas company for 1.901 billion euros. The operation has been well received by the markets and by analysts.