Repsol Sells $1.3 Billion Stake to Temasek to Boost Finances

Repsol SA, Spain’s biggest oil company, sold treasury shares to Singapore’s Temasek Holdings Pte for 1 billion euros ($1.3 billion) to bolster finances and protect its credit rating.

Temasek, a state-owned investment company, bought the 5.04 percent stake for 16.01 euros a share, a 1.7 percent discount to the previous close, in Singapore’s largest investment in Spain, Repsol said today. Repsol’s 2.5 percent gain in Madrid made it the top performer on the MSCI EMU/Energy index.