Bloomberg News

Sacyr May Seek to Sell Part of Repsol Stake, El Pais Reports

May 06, 2012

Sacyr Vallehermoso SA (SYV) may sell part of its 10 percent stake in Repsol YPF SA (REP) if the price is right, Sacyr Chairman Manuel Manrique said, El Pais reported.

The goal of any sale would be to repay some debt and extend the rest, Manrique said in an interview with the Spanish newspaper. Sacyr plans to sell some assets to raise funds for new projects and will also focus on reducing debt while containing costs, Manrique said, adding he expects the company to post a first-quarter profit.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


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