This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Repsol vende activos no estratégicos en Chile por 540 millones de dólares

Repsol sells active no strategic in Chile by 540 million dollars

19/07/2012

19 July 2012

Repsol has reached an agreement with a consortium of Chilean investors, led by LarrainVial, for the sale of 100% of his subsidiary Repsol Butano Chile by an approximate amount of 540 million dollars. Repsol Butano Chile possesses a participation of 45% of Lipigas, present company in the Chilean market of commercialisation of GLP, in addition to other active financial.

The transaction will generate a plusvalía net of something more than 170 million dollars to the time that will reduce the debt of the Group around 317 million dollars. This operation freamers in the aims of desinvestments in active no strategic collected in the Strategic Plan 2012-2016 of Repsol, that foresees until 4.500 million euros of desinvestment for said period. These desinvestments, that rise already to 1.850 million euros, together with other measures of the company, are allocated to improve the financial structure of the Group and to tackle the planned investments in the area of Exploration and Production, engine of growth of the company.