Mexico's Pemex has revealed that it sold its 7.86% stake in Repsol for approximately $2.9 billion. The shares were sold to unspecified private investors at a price of €20.1 per share, a 3.7% discount to the Spanish company's closing price on 3-Jun-2014.
The sale ends a more than 25 year partnership which has grown fractious due to disagreements over policies ranging from top management to handling of Repsol's investments in Argentina.
In May-2014, Pemex hired Credit Agricole to sell its stake of 9.3% in Repsol, according to El Confidencial.
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