At least 85% of Sacyr Vallehermoso SA's (SYV.MC) creditors are
willing to refinance the construction company's EUR4.9 billion debt
used to buy a 20% stake in Repsol YPF SA (REP), and which expires
Wednesday, reported Monday Spanish news agency Efe, citing people
close to the negotiations.
Sacyr is also still considering selling 8%-10% of Repsol to an
industrial partner or even to Repsol.
According to recent press reports, among the potential buyers
are China Petroleum & Chemical Corp. (SNP), or Sinopec, India's
Essar Energy (ESSR.LN), Colombia's Ecopetrol (EC), Italy's Eni SpA
(E), as well as Arab funds such as Qatar Holding.
But according to El Pais's Tuesday edition, talks with China's
Sinopec for a stake sale in Repsol have fallen through.
Agency website: www.efe.com
-By Enza Tedesco, Dow Jones Newswires;
enza.tedesco@dowjones.com