Pemex Selling 7.86% of Repsol Worth $3B

Posted by Eric Haun
Tuesday, June 03, 2014

Mexico's national oil company Pemex is selling a 7.86 percent stake in Spanish oil firm Repsol, worth about 2.2 billion euros ($3.0 billion) at current market prices, Citigroup and Deutsche Bank, the banks handling the sale, said on Tuesday.

The sale, to be carried out through an accelerated book build, is nearly all of the Mexican firm's holding in Repsol, where it is the company's third largest shareholder with an 8.75 percent stake.

Mexican government officials had opened the door to a Repsol stake sale in the past few weeks when Repsol appointed a chief executive officer whom Pemex had not backed.

The sale comes before Mexican President Enrique Pena Nieto is due to make his first official visit to Spain on June 9-10.

Repsol declined to comment and Pemex could not be immediately reached for comment.

Repsol's shares closed on Tuesday down 0.19 percent at 20.865 euros each.

($1 = 0.7342 Euros)

(Reporting by Tracy Rucinski. Editing by Jane Merriman)

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Tankship-specific Version of FindaportCD Released

Harbour & terminal information providers, Shipping Guides Ltd, says its latest tanker-specific  addition enables customers to access the most comprehensive port

Navy Unmanned Aircraft Sets the Bar

The Navy's X-47B unmanned aircraft has completed its final test aboard 'USS Theodore Roosevelt' (CVN 71) and has returned to its home base at Naval Air Station Patuxent River after eight days at sea
,

Finance

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Gibdock Rreputation Rises in German Market

Gibdock has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent client list

Panama Canal Generates VER Carbon Credits

The Panama Canal Authority (ACP) informs it has certified Verified Emission Reductions (VERs) or carbon credits, within the framework of the Sustainable Forest

Energy

Nanotechnology & Big Data: New Review

A report commissioned by the Lloyd’s Register Foundation, reviewing the potential implications of nanotechnology on the safety and performance of engineering assets

Bulk Equipment is Delivered to Syzran Refinery

A reactor and a cold high-pressure separator is delivered to the site of Rosneft subsidiary Syzran Refinery for the constructed diesel hydro-treater. The unit

Achinsk Refinery Resumes Operation on Tight Schedule

Achinsk Oil refinery, suspended after the incident of June 15, 2014 has recovered the processes of primary crude oil processing on a tight schedule, according to the plan of repair activities.

News

USCG, National Park Service Rescue Sea Turtle

Members from the U.S. Coast Guard and National Park Service rescued a loggerhead sea turtle Sunday in Oregon Inlet. Watchstanders at Coast Guard Sector North Carolina

Bulk Equipment is Delivered to Syzran Refinery

A reactor and a cold high-pressure separator is delivered to the site of Rosneft subsidiary Syzran Refinery for the constructed diesel hydro-treater. The unit

Achinsk Refinery Resumes Operation on Tight Schedule

Achinsk Oil refinery, suspended after the incident of June 15, 2014 has recovered the processes of primary crude oil processing on a tight schedule, according to the plan of repair activities.

Government Update

EU Warship Provides Seychelles CG Training

EU Naval Force Warship 'FGS Berlin' has conducted local maritime capacity building in the Seychelles informs EUCAP Nestor. Three Local Maritime Capacity Building

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves

DoD Award Dredging, Ship Maintenance, Charter Contracts

US Department of Defense informs of placement of contracts for Chesapeake Bay dredging, dry-docking of USS Pearl Harbor, and charter of surface escort vessels. Details as follows: 1.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2014 sec (5 req/sec)