UPDATE 2-Mexico's Pemex selling Repsol stake worth $3 bln

martes 3 de junio de 2014 17:13 GYT

* Pemex selling nearly all of Repsol stake

* Share sale worth $3 billion

* Citigroup, Deutsche Bank joint bookrunners (New throughout, adds details on Mexican energy market, Repsol shareholders)

By Tracy Rucinski

MADRID, June 3 (Reuters) - Mexico's national oil company Pemex will sell a 7.86 percent stake in Spanish oil firm Repsol, worth about 2.2 billion euros ($3.0 billion), Citigroup and Deutsche Bank said on Tuesday.

The sale, to be made via an accelerated book build, should be completed by Wednesday, the banks said. It ends a long relationship between Pemex and Repsol that had run into trouble in recent years over disagreements on policies ranging from top management to the handling of Repsol's investments in Argentina.

Through this sale, Pemex will divest nearly all of its holding in Repsol, where its 9 percent stake has made it one of the top three shareholders.

Mexico's government had suggested a possible Repsol stake sale in recent weeks with a view to investing the funds in new opportunities in Mexico. The country is ending a state oil and gas monopoly that has existed since 1938.

Pemex, one of Repsol's oldest shareholders, had criticized the Spanish company publicly over Chairman Antonio Brufau's management, in part due to his handling of the Argentine government's move to nationalize Repsol's YPF unit. Pemex tried to oust Brufau in 2011.   Continuación...