Temasek Holdings, a Singapore’s government investment fund, bought another 5% stake in Repsol SA for $1.35 billion as Repsol continues efforts to maintain its investment-grade credit rating. Temasek is lifting its Repsol stake to 6.3% interest, Repsol said.
Repsol's credit rating has been under scrutiny since Argentina took control of YPF SA and expropriated Repsol’s majority stake in YPF last year (OGJ Online, Apr. 17, 2012).
Temasek, which is among the world's biggest sovereign investors, had no immediate comment on the transaction.