Latham & Watkins and Allen & Overy are advising as Spanish energy giant Repsol Upstream sells a $4.8 billion stake, equating to 25% of Repsol’s entire global upstream oil and gas business, to U.S. private equity house EIG.
Through the deal, which comprises around $3.4 billion cash and $1.4 billion net debt, Repsol “will retain operational control of this business” and “the newly structured entity will maintain its workforce and existing management team as well as the current business plan”, according to its announcement.
