AFX Europe (Focus): Repsol YPF, CVC to present bid for Royal Dutch Shell LPG ops this mth - report Friday Oct 14, 2005
MADRID (AFX) - Repsol YFP SA and CVC Capital Partners are finalising their bid for Royal Dutch Shell Group's Liquefied Petroleum Gas (LPG) operations, and plan to present the offer this month, Expansion reported, citing unnamed sources close to the consortium.
Royal Dutch Shell's LPG business has been valued at some 2.5 bln eur, the newspaper noted.
According to Expansion, Repsol YPF and CVC are favourites to win the tender for the LPG business, but will face competition from five other firms, including Cia Espanola de Petroleos SA core shareholder Ipic and a consortim formed by Brazil's Ultragaz and Cinven.
The newspaper noted that Repsol YPF could finance its share of the acquisition with the sale of part of its 30 pct stake in Gas Natural SDG SA, should the Catalan gas company's hostile 2.2 bln eur bid for Endesa SA succeed.
Click here to return to ShellNews.net HOME PAGE