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Spain's stock market regulator Tuesday suspended trade in the shares of oil major Repsol YPF SA (REP.MC) and its top shareholder, Sacyr-Vallehermoso SA (SYV.MC), amid press speculation that Sacyr may sell part of its Repsol stake.
The regulator didn't give a reason for the suspension, or say when it will be lifted.
Late Monday, state-owned news agency Efe reported that at least 85% of Sacyr's creditors are willing to refinance a EUR4.9 billion loan used by the cash-strapped construction company to buy its Repsol stake.
As part of the refinancing deal, Sacyr is considering selling 8%-10% of Repsol to an industrial partner or even to Repsol itself.
According to recent press reports, other potential buyers are China Petroleum & Chemical Corp. (SNP), or Sinopec, India's Essar Energy (ESSR.LN), Colombia's Ecopetrol (EC), Italy's Eni SpA (E), as well as Arab funds such as Qatar Holding.
-By David Roman, Dow Jones Newswires, +34 91 395 8127; firstname.lastname@example.org