Sacyr rules out selling Repsol shares
Sacyr Chairman Manuel Manrique ruled out, at a general meeting on Thursday, the sale of shares of Repsol, reported Expansion. The Spanish builder, which is Repsol's second largest shareholder with a 9.2% stake, has no plans to sell it in order to refinance the EUR 2.2bn loan associated with the stake, according to the report.
There had been market speculation that Sacyr may sell about 3% of Repsol to refinance the loan, the Spanish report noted.
Source Expansion