Temasek Puts Up $1.35B For Repsol Slice

Law360, New York (March 4, 2013, 4:10 PM EST) -- Oil titan Repsol SA on Monday sold its treasury stock portfolio for €1.04 billion ($1.35 billion) to investment firm Temasek Holdings, part of a push to hack debt after the Argentine government nationalized Repsol's majority stake in fellow energy company YPF SA.

The treasury shares represent 5 percent of Repsol's total stock, lifting Temasek's total stake in the company to 6.3 percent. Under the deal's terms, Temasek — Singapore's state-owned investment firm — will pay €16.01 per share, nearly a 2 percent discount to the shares'...
To view the full article, register now.