Repsol, acting under a plan to focus on exploration and production, has agreed to sell downstream interests in Chile to a group of Chilean investors led by LarrainVial for $540 million (OGJ Online, June 4, 2012).
Repsol Butano Chile, the unit covered by the agreement, holds a 45% stake in Lipigas, a retail LPG business, and other financial interests.
Repsol’s strategic plan for 2012-16 calls for asset sales of up to €4.5 billion. Including the Chilean transaction, the company has completed €1.85 billion in sales so far.
