Repsol Nets $121M In Spanish Oil Plant Sale To BP

Law360, New York (October 11, 2013, 5:29 PM EDT) -- Spanish oil and gas company Repsol SA has sold its 25 percent stake in a power plant in Bilbao to BP PLC for €135 million ($183 million), Repsol announced Friday.

The deal for the Bahia de Bizkaia Electricidad power plant is expected to net Repsol €89 million in capital gains before taxes, according to the company.

The Bahia de Bizkaia plant was initially supposed to be sold to Royal Dutch Shell PLC as part of a larger liquefied natural gas deal.

“This asset, initially included in...
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