Repsol rules out selling Gas Natural stake to Sinopec
Repsol has ruled out selling its 30% stake in Gas Natural Fenosa (GNF) to Sinopec of China, reported El Economista, citing Repsol sources.
According to the Spanish-language report, although it still intends to sell its stake, Repsol will only dispose of the stake if it needs to raise money for acquisitions.
Although talks with Sinopec about selling Repsol’s GNF stake did take place last week, GNF itself and its leading shareholder La Caixa made known their opposition to the deal, the report said.
Besides Sinopec, other potential suitors have expressed their interest in GNF, the report continued.
Source El Economista