Repsol to Sell Portion of Sacyr Shares
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Friday, 13 January 2012 |
Respol will sell roughly half of the 10% stake it bought back from Spanish developer Sacyr to help refinance loans. In a regulatory filing, the oil firm said 61m shares would be offered in a one day sale.
The sale will be managed by Banco Bilbao Vizcaya Argentaria, Deutsche Bank, Goldman Sachs Group, JPMorgan Chase. and UBS, with a guide price of €22.35 to €22.80 per share. Repsol bought the 10% stake on December 20 for an average price of €21.07 as a deadline for loan repayments for Sacyr drew near. The €2.57bn transaction represented a €940m loss for Sacyr.
PetrolWorld 13012012
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