The Russian oil company Lukoil, which is funded by private capital, is negotiating to buy a 30% stake in the Spanish oil company Repsol YPF.
Repsol YPF is basically owned by Sacyr Vallehermoso, the major shareholder, La Caixa with 12%, Pemex with 4.9% and Axa with 4.2%. Lukoil would effectively be buying a 20% share put up for sale by Sacyr and another 10% from various other shareholders.
At today’s stock market prices, 30% of Repsol YPF would be valued at €5,000 million. The outlay for Lukoil for such a venture, if it is successful, would be in the region of €9,000 million, roughly one-third of the company’s value on the stock exchange.
Lukoil is the second largest oil company in Russia and is also amongst the largest in the world and already has a 20% share in the American oil company ConocoPhillips.