Repsol SA
REP: XMAD (ESP)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€63.30 | Bhrj | Fkllcql |
Repsol Sells 25% of Upstream Business and Seems To Be Heading for a Breakup
Repsol agreed to divest a 25% interest in its upstream business for $4.8 billion, consisting of $3.4 billion in equity and $1.4 billion in net debt, to EIG, an energy investor. Repsol will continue to consolidate the upstream results and act as operator. The sale implies an enterprise value of $19 billion for the upstream business or $8.3/barrel of oil equivalent proved and probable reserves, according to Repsol.