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Repsol plans sale of minority stake in renewables unit

RICHARD HEAP

May 15, 2024

Spanish oil giant Repsol is reportedly in talks to sell a minority stake in its renewables unit to support its investment plans through to 2027.

The company has appointed Santander to advise on a sale of a stake of around 25% following an unsolicited approach. Repsol plans to hold onto more than 50% of Repsol Renewables, and previously sold a 25% stake in the division in 2022 to Crédit Agricole Assurances and Energy Infrastructure Partners.

The sale would help support Repsol’s plan to diversify its business by adding more renewable energy generation and other low-carbon activities. Repsol Renewables is currently valued at around €5.9bn.

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