Repsol to Sell Shares in Brazil Unit to Fund Fields
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Repsol YPF SA, Spain’s largest oil company, filed to sell voting shares in its Brazilian unit to fund exploration and production at offshore fields.
Banco Itau BBA will be the lead manager of the planned initial public offering, Repsol said late yesterday in a filing to Brazil’s securities regulator. The Madrid-based oil producer, which plans to sell about 40 percent of its Brazilian business in the IPO, didn’t disclose the value of the sale.