Spanish energy giant Repsol has reportedly entered talks with CVC Capital Partners investment fund to sell its stake in compatriot utility Gas Natural Fenosa.
The deal is worth around €4.1 billion ($4.9 billion), Spanish business and economic newspaper Expansión reports.
Repsol owns a 20 percent stake in Gas Natural, equal to that of the US GIP fund that acquired 10 percent stakes in 2016 from Repsol and Criteria Caixa each.
Criteria Caixa, the company that owns the Caixa bank is the largest shareholder in Gas Natural Fenosa with a 24.4 percent stake.
Following Repsol’s sale of 10 percent stake to GIP fund in 2016, the company is understood to be looking to shed the remainder of its stake in GNF.
1 EUR = 1.19510 USD
LNG World News Staff