Repsol sells 5% of CLH for 145m Euros

 

Spain's Repsol said it has sold 5 percent of fuel logistics company CLH for 145 million euros ($193.1 million), as it pushes ahead with asset disposals to help finance an ambitious exploration project.

Basque savings bank BBK bought the stake in a deal that will generate 107 million euros of capital gains for Repsol and reduce its stake in CLH to 10 percent, it said in a statement to Spain's stock market regulator on Thursday.

Repsol is still looking for a buyer for a further 5 percent of CLH, whose other shareholders are Spain's Cepsa with 14.15 percent, Disa and Oman Oil with 10 percent each and BP and Portugal's Galp with 5 percent each.

Shares in Repsol closed up 1.6 percent at 17.9 euros on Thursday, compared with a 2 percent gain on Spain's blue-chip index .IBEX.