Repsol in €3.82-bln divestment
MADRID, February 22, 2018 – Repsol has struck a deal to sell its 20% interest in midstream giant Gas Natural for EUR 3.82 billion, international media reported on Thursday.
Rioja Bidco Shareholdings, a subsidiary of private equity company CVC, is the buyer, Reuters reported.
Early reports did not specify when the deal is expected to close or how the company will use the proceeds. Analysts interviewed by Reuters and other media suggested that Repsol could invest more heavily in renewable energy, buy back shares or compete in retail energy markets.