Repsol in $1.35bn Singapore sale

Selling more: Antonio Brufau-led Resol lets more shares go to Singapore

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Eoin O'Cinneide

 04 March 2013 08:09 GMT

Spain's Repsol has followed up its recent LNG divestments with the monster sale of a minority stake to Singapore's sovereign wealth fund.

The EUR 1.036 billion ($1.35 billion) sale of treasury shares to Temasek will see the European oil company take a EUR 148 million negative impact on reserves.

With the sale of the 5.04% of treasury shares to Temasek, Repsol has now sold all of its treasury stock acquired in December 2011 from Sacyr Vallehermoso's lenders.

Temasek has picked up the 64.7 million shares at EUR 16.01 a piece to boost its holding in Repsol to 6.3%. The deal represents Singapore's largest investment in Spain.

Repsol said on Monday: "The sale to Temasek is part…

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