Repsol talks to buy Talisman assets stall: WSJ

CALGARY Alberta Tue Aug 26, 2014 6:35pm EDT

The logo of Spanish energy company Repsol is seen outside a gas station in Madrid November 23, 2012.  REUTERS/Sergio Perez

The logo of Spanish energy company Repsol is seen outside a gas station in Madrid November 23, 2012.

Credit: Reuters/Sergio Perez

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CALGARY Alberta (Reuters) - Spanish energy company Repsol SA's talks to buy oil and gas assets belonging to Canadian producer Talisman Energy Inc have stalled, The Wall Street Journal reported on Tuesday, citing several people familiar with the matter.

Calgary-based Talisman, Canada's fifth-largest independent petroleum producer, said in late July it had been approached by Repsol with regards to various transactions.

The Canadian company, which operates in North America, southeast Asia, the North Sea, Colombia and elsewhere, has long been considered a takeover target as its stock slumped in recent years on weak natural gas prices.

Repsol, meanwhile, is cash-rich since settling a two-year dispute with Argentina earlier this year over the seizure of the company's business there.

The WSJ article said that people familiar with the talks between Repsol and Talisman said a possible deal was not dead, but two of those people said discussions had frozen.

No one from Talisman was immediately available to comment.

(Reporting by Nia Williams; Editing by Leslie Adler)

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