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


		Bound4blue wins Bureau Veritas design assessment for Model 3-24 eSAIL at SMM 2026 Independent design assessment adds credibility as bound4blue’s suction sail fleet reaches 13 vessels.

		Svitzer orders six TRAnsverse 2900 biofuel-ready tugs from Cheoy Lee Towage provider expands next-generation TRAnsverse fleet with fresh Hong Kong order.

		UK shipping bodies launch alternative fuels coalition to drive net zero transition New cross-industry body aims to align fuels, infrastructure and policy for shipping decarbonisation.

		Rolls-Royce expands mtu yacht propulsion portfolio with variable-speed gensets and new SCR system Rolls-Royce Power Systems launches two mtu Series 2000-based systems targeting efficiency and emissions compliance.

		Uni-Fuels seeks senior bunker trader in Houston following general manager hire Bunker firm looking for candidate with proven track record in bunker trading.

		Yanmar Maritime receives DNV type approval for hydrogen fuel cell system at SMM The GH-FC series certification is aimed at easing adoption of hydrogen propulsion across vessel types.

		Flex Commodities appoints senior marine fuels trader in Singapore Euwyn Tan joins Flex Commodities to strengthen its marine fuels trading operations in Asia.

		LNG dual-fuel boxship handed over to Eastern Pacific Shipping Closing ceremony held in Jingjiang for 8,400-TEU container vessel.

		Everllence and Damen sign framework agreement for serial supply of 175D engines Agreement covers high-speed engine supply for Damen’s fuel-flexible tug programme and beyond.

		IINO Lines signs time charter deal with BGN for LPG dual-fuel VLGC Japanese shipowner’s fourth LPG dual-fuel vessel will offer rare dual-canal Panama Canal transit capability.