Repsol: EIG completes acquisition of 25% of upstream unit

(CercleFinance.com) - EIG, an investor specialising in energy and infrastructure, announced on Thursday that it had completed the acquisition of a 25% stake in Repsol Upstream, the branch of Repsol that groups its oil and gas exploration and production activities.


The US fund said that its subsidiary, Breakwater Energy, has acquired 25% of Repsol Upstream for a total consideration of about 4.8 billion dollars, including debt.

The Spanish energy company will control the remaining 75%.

Repsol Upstream owns and operates a diversified portfolio of upstream assets generating more than 600,000 barrels of oil equivalent per day in 15 countries, including the US.

The division, which generates strong cash flow, should be able to sustain a strong dividend, while maintaining a relatively low carbon intensity compared to its peers.


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