- Repsol (OTCQX:REPYF, OTCQX:REPYY) is exploring options including a sale of part or all of its stake in Gas Natural SDG (OTCPK:GASNY) to shore up its balance sheet amid low oil prices, Bloomberg reports.
- Repsol, whose 30% stake in the Spanish natural gas distributor is valued at ~€5.2B ($5.9B), is discussing potential deal structures with advisers, which would include a full or partial sale, selling shares in the market, and finding partners to join Gas Natural’s shareholder structure, according to the report.
- A sale would help Repsol raise funds to reduce debt and avoid a downgrade of its debt rating.
- Responding to the report, the company says it is not studying any potential sale of part or all of its stake in Gas Natural.