Sinopec's investment will see it take 40% of the joint venture - Repsol Sinopec Brazil - which has an estimated market capitalisation of $17.8 billion. Repsol retains 60%.
In a regulatory announcement, Repsol added it would book capital gains of $3.757 billion from the deal, which was originally agreed on 1 October.
The cash injection will allow Repsol Sinopec Brazil to fully develop all of its current projects, Repsol said.
Both
