Crowd gathers around Repsol’s LNG sell-off stall

Racael Meredith

 27 July 2012 13:20 GMT

Companies move in to express interest in Spanish company's assets.

More than 10 companies have expressed an interest after Spain’s Repsol said last week it is considering selling its LNG assets.

Chief financial officer Miguel Martinez told analysts in an interim results briefing: “We will see how it evolves but our idea… (is) to move fast.”

Disposal of the LNG business will reduce Repsol’s debt levels and increase its cash position without having a dilutive effect on the rest of the operation, he insisted.

Repsol is also considering a preference share sale as an alternative way to protect its…

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