Repsol Sells Part of Piped Gas Business

Spanish oil major Repsol on Wednesday said it had sold part of its piped gas business to Gas Natural Distribution and Redexis Gas for 652 million euros ($728 million), helping it reach its asset disposal target.

 

The company said it had now surpassed its goal to sell $1 billion in non-strategic assets, a target it set itself after acquiring Canada's Talisman. It also sold its stake in fuel logistics firm CLH earlier this month.

 

Redexis Gas is owned by Goldman Sachs' infrastructure fund.


($1 = 0.8956 euros)

(Reporting by Sarah White; Editing by Julien Toyer)