Sept 9 Spanish energy company Repsol
has consulted Citigroup and Deutsche Bank on
the possible sale of its $6 billion stake in utility Gas Natural
, the Financial Times reported.
Repsol has asked the banks to explore options for its 30
percent stake in Gas Natural, the FT said on its website citing
people familiar with the situation. (link.reuters.com/fyb92v)
Repsol Chief Financial Officer Miguel Martinez in July
hinted at the eventual sale of its share in Gas Natural, saying
the need to hold the stake would diminish after Repsol closes a
$6.7 billion deal to sell a large part of its liquefied natural
gas (LNG) assets to Royal Dutch Shell. The deal is
expected to close by the end of the year.
The Gas Natural stake allows Repsol to sell LNG from its
liquefaction plants in Trinidad and Tobago and in Peru, and its
regasification plant in Canada, to the gas company. But once it
has sold its largest plants - in Trinidad and Tobago and Peru -
to Shell, it will have less need for the sale agreement with Gas
Repsol could not be reached immediately for comment.
(Reporting by Richa Naidu in Bangalore; Editing by Carol