Report: Sacyr Chairman Ousted
|
|
|
|
Saturday, 22 October 2011 |
In a move that could have a significant impact upon Repsol and Pemex, the board of Sacyr is reported to have ousted its chairman, Luis del Rivero. Local daily El Pais is reporting that del Rivero, who was key to the acquisition of a 20% stake in Repsol and subsequent clashes with the company’s management team, was dismissed by the company, citing unnamed sources.
It in unclear whether Mr Rivero’s departure is related to share dealing that saw Pemex nearly double its stake in Repsol during August, or Repsol’s request for a regulatory inquiry into the trading of its shares. Sacyr has been a key ally of Pemex in calling for changes at Repsol, and it is unclear whether the construction company will continue to back the Mexican state-owned firm.
Petrolworld 21102011
|
