Singapore, China reach out to Spanish gas firm

Gas NaturalSingapore state investment giant Temasek and Chinese oil group Sinopec aim to snap up a multi-billion dollar stake in Spain’s Gas Natural, the Financial Times reported on October 7.

The two companies had contacted Spanish oil firm Repsol separately to say they were interested in buying its $6.4 billion stake in Gas Natural, the paper said, citing people close to the process.

Spanish company Repsol has a 30-per cent stake in Gas Natural and wants to sell most of the investment so as to leave itself with a five per cent share in the gas firm. Repsol has been selling assets to replace income lost after the nationalisation of its Argentinian subsidiary YPF by Cristina Kirchner’s government in April 2012.

In February, Repsol announced it was selling a part of its liquefied natural gas business to Dutch-anglo group Royal Dutch Shell for $6.65 billion. Repsol and its largest investor, CaixaBank, as well as the Spanish government all approved of Temasek and Sinopec as potential investors, the report said.



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Singapore state investment giant Temasek and Chinese oil group Sinopec aim to snap up a multi-billion dollar stake in Spain's Gas Natural, the Financial Times reported on October 7. The two companies had contacted Spanish oil firm Repsol separately to say they were interested in buying its $6.4 billion stake in Gas Natural, the paper said, citing people close to the process. Spanish company Repsol has a 30-per cent stake in Gas Natural and wants to sell most of the investment so as to leave itself with a five per cent share in the gas firm. Repsol has been selling...

Gas NaturalSingapore state investment giant Temasek and Chinese oil group Sinopec aim to snap up a multi-billion dollar stake in Spain’s Gas Natural, the Financial Times reported on October 7.

The two companies had contacted Spanish oil firm Repsol separately to say they were interested in buying its $6.4 billion stake in Gas Natural, the paper said, citing people close to the process.

Spanish company Repsol has a 30-per cent stake in Gas Natural and wants to sell most of the investment so as to leave itself with a five per cent share in the gas firm. Repsol has been selling assets to replace income lost after the nationalisation of its Argentinian subsidiary YPF by Cristina Kirchner’s government in April 2012.

In February, Repsol announced it was selling a part of its liquefied natural gas business to Dutch-anglo group Royal Dutch Shell for $6.65 billion. Repsol and its largest investor, CaixaBank, as well as the Spanish government all approved of Temasek and Sinopec as potential investors, the report said.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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