This has led to today Criteria to confirm that the SEC maintains "informal contacts" for the sale of all or part of its participation
in Repsol, a 12.5 per cent. From the Spanish
Government insists on the 'Spanish' and Repsol will be states that "every effort" to Repsol remain "independent and Spanish" because it is a "key" to the country's energy supply.
Last week the deputy chairman of the Federation of Russia, Alexander Zhukov, said in Madrid that Russia's Gazprom was interested in acquiring 20% stake in Repsol YPF Sacyr Vallehermoso. However, the Russian gas monopoly Gazprom days after he denied having or having had an interest in the
operation.
And now, another Russian company returned to the load. Lukoil, the second private Russian oil company with a market capitalization value of 20,000 million euros behind Rosneft, intends to acquire just under 30% of the oil, the limit above which would make a tender offer for 100%.
This operation is done through the purchase of 20% that Sacyr Vallehermoso, the principal shareholder of Repsol but in a very delicate financial position with over 18,000 million of debt, is urgency to sell, and part of the La Caixa. Lukoil might be willing to pay 9,000 million in the operation, according to RNE. This represents a premium pay of 80% over the value of 30% of the Spanish oil company at the close of yesterday's session, 5,000 million.
Informal contacts
Criteria, La Caixa investment arm, has recognized the existence of "informal contacts" to sell "all or part of its participation in Repsol, which by now has not received any concrete offer. Criteria owns 12.5% of Repsol, but also society Repinvest (together with La Caixa Caixa Catalunya) is 6% more than oil, so that La Caixa controls 14%.
Carried out the operation, Lukoil became the largest shareholder of the oil and chairs Antonio Brufau would stay at the edge of the legal limit of 30% for having to submit a bid.
Neither Repsol YPF nor Sacyr itself, who paid about 6,000 million for 20% of Repsol in the autumn of 2006 have confirmed the operation. Sacyr has been referred to the letter sent last week to stock market regulator, which like today Criteria recognized that negotiates the sale of its package Repsol.Sacyr is the largest shareholder of the Spanish oil company (20.01% ), ahead of La Caixa (14.123%), the insurer Axa (4.2%) and Pemex (3%), as recorded in the registers of the CNMV
Shares of Sacyr morning showed an increase of 6.92% to 6.95 euros, while Repsol titles earned 1.86%, to 14.17 euros. However, so far this year, the first stock exchange has lost 41.5% and the construction of Luis del Rivero, a 73%, positioning itself as the quote of Ibex-35 that has lost in 2008. On the London Stock Exchange, Lukoil lost 10.6% to 26.82 euros.
Independent and Spanish
The vice president's economic government, Pedro Solbes, until now escaped twice in the Congress to make any comment about the interests of Russian oil. "I have nothing to say, nothing," was his only answer. The only member of the Government wanted to comment that the operation was the owner of Industry, Miguel Sebastian, who has ensured that will do all we can to ensure that Repsol will remain "independent and Spanish," because, reminded that this is a company " key "to the country's energy supply.
"Repsol is a strategic key to the strategic supply of Spain," noted Sebastian, after attending a breakfast organized by Forum Europe with the secretary general of the Socialists in Madrid, Tomas Gomez.
Arguments do not convince the opposition. The PP's economic spokesman, Cristóbal Montoro, has condemned the "inaction and complacency of the Government," which in his opinion, is a very dangerous attitude to the "significant" moves that are going to hit the manufacturing and energy. "We will not leave the crisis to dismantle these sectors," he said.
For its part, the MP 'popular', Vicente Martínez Pujalte, described as "extremely irresponsible aberration" that will allow an outside company, "semi" and serves as a "virtual monopoly", it may come as a private Spanish Repsol .
For the Catalan nationalists can not "put gates to the" but we should look very closely, "who is behind the operation." The PNV's economic spokesman, Pedro Azpiazu, said that can not be allowed entry without any guarantees.
For his part, MP for CiU Josep Sánchez Llibre stressed that the federation is in favor of nationalist groups equity firms are strategic sectors in Spain. "What we do not want to happen in Repsol's what happened in Endesa, which is now owned by the Italian state," he said.
The representative of the Congress IU, Gaspar Llamazares, said he was concerned "a lot" of interest by Lukoil Repsol. "If we lose Repsol is bad for the head of the privatization," he said.