UPDATE 1-Mexico's Pemex prepares to sell Repsol stake - report

lunes 5 de mayo de 2014 09:05 GYT
 

* Pemex owns 9.3 percent of Repsol

* Repsol stake has market value of 2.3 billion euros

* Pemex hires Credit Agricole to handle sale - report (Adds Pemex no comment, background, detail from sources)

By Jose Elías Rodríguez and Tracy Rucinski

MADRID, May 5 (Reuters) - Mexican state-run oil company Pemex is preparing to sell its 9.3 percent stake in Spain's Repsol, according to a media report on Monday, after the appointment of a new chief executive further soured relations between the two firms.

Pemex, Repsol's third-biggest stakeholder and a long-time investor in the group, has hired Credit Agricole to handle the sale, Spanish online newspaper El Confidencial said, citing financial sources. At current market prices, the stake is worth 2.3 billion euros ($3.2 billion).

Pemex and Credit Agricole declined to comment.

Pemex has had an increasingly fractious relationship with Repsol in recent years, marred by disagreements over how the Spanish group handled the loss of a unit in Argentina and the degree of influence it has allowed its Mexican partner.

Last week, Pemex voted against the appointment of Josu Jon Imaz in the new role of chief executive, a source close familiar with the board decision has said.   Continuación...