Caixa Offers Brufau ‘Unconditional’ Support in Repsol, Pais Says

Repsol YPF SA (REP) Chairman Antonio Brufau has received “unconditional support” from shareholder La Caixa amid efforts by two other stakeholders to restructure the Spanish oil company’s management, El Pais reported, citing unidentified people.

La Caixa, which controls 12.8 percent of Repsol, wants to defend the current set-up after Sacyr Vallehermoso SA (SYV), the largest shareholder, and Petroleos Mexicanos signed an investor pact to push for changes in the management structure, El Pais said.

To contact the reporter on this story: Emma Ross-Thomas in Madrid at erossthomas@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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