CEPSA sells 5% of its stake in CLH

Tue 17 Dec 2013, 15:32 GMT

CEPSA sells 5% of its stake in CLH

Spanish oil firm in deal to sell 5% of its shareholding in Compañía Logística de Hidrocarburos (CLH) to private investment company Ardian.

Spanish oil firm Compañía Española de Petróleos, S.A.U. (CEPSA) has agreed to sell 5 percent of its stake in Compañía Logística de Hidrocarburos (CLH) to the independent private investment company Ardian.

After the sale, CEPSA says it will still hold a 9.15 percent stake in CLH and will keep two representatives on the Board of Directors, who will be appointed once the transaction has been concluded.

Pedro Miró, CEO of CEPSA, remarked: "CLH has always been an important investment for CEPSA. We are satisfied with our involvement and believe our holdings will be sufficient to fulfil our objectives. CEPSA is focusing its efforts on the Exploration and Production area, and the company's interests are adequately represented in the Spanish fuel storage and distribution company."

The deal is set to be closed at the end of 2013.

Banco Bilbao Vizcaya Argentaria (BBVA) Bank has been acting as advisor in the transaction.

Deal Spain


		KEYS Azalea completes 100th LNG bunkering operation in western Japan LNG bunkering vessel reaches landmark delivery in two and a half years.

		Port of Santos moves to regular ethanol bunkering for ships CMA CGM, Copersucar and Bunker One expand July pilot into a commercial supply chain for ethanol as a marine fuel in Brazil

		Baleària floats first fully electric fast ferry for Tarifa–Tangier route Spanish operator's new catamaran, built at Armón's Gijón yard, will enter service in summer 2027.

		Kawasaki Heavy Industries delivers fourth LNG-fuelled VLCC The 309,000-tonne Tsurugidake, built at a joint-venture shipyard in Dalian, is designed to cut CO₂ emissions by up to 30% when running on LNG.

		South Korean agencies link up on green shipping data and monitoring tech KRISO and KOMSA sign an MOU to share demonstration data and remote monitoring capabilities for eco-friendly vessels.

		Peninsula seeks sales trader for Singapore bunker fuel desk Role suited to candidates with prior sales or trading experience, ideally within the maritime or energy sector.

		FuelEU pooling drives surge in bio-LNG demand, Titan analysis finds Clean fuel supplier's modelling shows pooling mechanism turning overcompliance into tradable value for LNG-fuelled ships.

		Ports told to prepare now for advanced nuclear power Joint paper sets out a readiness pathway for ports facing nuclear-powered vessels, floating reactors and small modular units

		Eastern Pacific Shipping takes delivery of first ammonia dual-fuel VLAC Terra Clove powered by first Everllence B&W 6G60ME-C10.5-LGIA ammonia dual-fuel two-stroke engine.

		Bureau Veritas approves WinGD's variable compression ratio technology for dual-fuel engines Classification society grants type approval to engine technology enabling compression ratio adjustment across different marine fuels.