Welligence UK M&A | Repsol Sinopec acrimony ends with Repsol buyout
May 3, 2023
On 28 April, Repsol announced the acquisition of Sinopec’s interest in the Repsol Sinopec Resources JV for €1.9 billion (US$2.09 billion). Discounting the cash on hand in the JV reduces the consideration to US$1.1 billion. The acquisition of Sinopec’s 49% stake will give Repsol complete ownership of the company and ends a long-running dispute between the two partners.