Repsol Cuts Debt With $4.1B Sale Of LNG Assets

Law360, New York (January 2, 2014, 12:10 PM EST) -- Spain's Repsol SA finalized the $4.1 billion sale of its liquefied natural gas assets in Trinidad and Peru to Royal Dutch Shell PLC, trimming its debt by $3.3 billion, according to a Thursday statement.

The deal, which was first announced in February, originally included assets in the Bay of Biscay and came with a slightly higher $4.4 billion price tag plus $1.8 billion in debt. However, Repsol ultimately sold its 25 percent stake in the Bahia de Bizkaia Electricidad power plant to BP PLC for €135...
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