Pemex Sells $2.8 Billion Repsol Stake as Industry Opened

Repsol SA REP fell the most in four months after long-time shareholder Petroleos Mexicanos sold a $2.8 billion stake.Spain’s largest oil producer dropped 3.6 percent to close at 20.11 euros in Madrid, after having dropped as much as 4.2 percent earlier today, the most since June 20, 2013. Pemex, as the Mexico City-based company is known, sold a 7.9 percent stake in the Spanish oil company in an offer managed by Citigroup and Deutsche Bank AG. DBK The holding was bought by institutional investors at a 3.7 percent discount to yesterday’s close, according to security filings in Spain.

via Pemex Sells $2.8 Billion Repsol Stake as Industry Opened – Bloomberg.

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