Spain's Repsol SA (REP.MC) said Wednesday that it had received several expressions of interest for its 20% stake in Gas Natural SDG SA (GAS.MC), including one from CVC Capital Partners Ltd (CVC.YY), responding to media speculation over a possible sell-off.
The oil-and-gas company said that the expression of interest from CVC was at a preliminary phase and that no legal or financial advice has been sought or any agreement reached. The company's stake in Gas Natural is valued at 4.2 billion euros ($5 billion) at current market prices, according to FactSet.
In September 2016, Repsol sold a 10% stake in Gas Natural to Global Infrastructure Partners LLC (GIP.XX), which also acquired 10% from other major shareholder Criteria Caixa, holding company of Caixabank SA (CABK.MC).
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(END) Dow Jones Newswires
January 10, 2018 06:01 ET (11:01 GMT)