Repsol, CriteriaCaixa Sell $4 Billion of Gas Natural SDG Shares

By Jeannette Neumann

MADRID--Spanish oil company Repsol SA and a holding company that owns a majority stake in Spanish lender CaixaBank SA have agreed to sell around EUR3.8 billion ($4.27 billion) of their shares in Gas Natural SDG SA to U.S. investment fund Global Infrastructure Partners.

Repsol and holding company CriteriaCaixa SA said Monday that they have agreed to sell a 10% stake each in Gas Natural to GIP for EUR19 a share.

CriteriaCaixa will remain the largest shareholder in Gas Natural with a 24.4% stake and Repsol maintains around 20%.

CriteriaCaixa said it will book a EUR218 million capital gain after the stake sale is completed. Repsol said it would book around EUR246 million in capital gains.

Write to Jeannette Neumann at jeannette.neumann@wsj.com

(END) Dow Jones Newswires

September 12, 2016 14:27 ET (18:27 GMT)

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