UPDATE 5-Mexico's Pemex ends 25-year partnership with Repsol

miércoles 4 de junio de 2014 13:58 GYT

* Sells 7.86 percent stake at 20.10 euros per share

* HSBC declares 5.37 percent stake in Repsol

* Shareholder Sacyr may sell up to 4 percent - analysts

* Repsol shares close 3.6 pct lower (Updates with Pemex statement, updates share price, market comparisons, adds graphic)

By Tracy Rucinski and Ana Isabel Martinez

MADRID/MEXICO CITY, June 4 (Reuters) - Mexico's state oil giant Pemex said it has sold most of its stake in Spain's Repsol SA for 2.09 billion euros ($2.9 billion) on Wednesday, and plans to unload the rest soon, ending a quarter-century partnership and freeing up cash to invest in its own energy sector.

Pemex sold 7.86 percent of Repsol to unspecified private investors at 20.10 euros each, a 3.7 percent discount to the Spanish company's closing price on Tuesday. The Mexican company later said it aimed to sell its remaining 1.4 percent stake in Repsol in August.

Pemex's exit as one of Repsol's top three shareholders ends a relationship that had become increasingly fractious in recent years due to disagreements on policies ranging from top management to the handling of Repsol investments in Argentina.

Pemex had publicly criticized Repsol Chairman Antonio Brufau's compensation and management, in particular his handling of the Argentine government's move to nationalize Repsol's YPF unit. The Mexican company sought to oust Brufau in 2011.   Continuación...