OREANDA-NEWS. Repsol has reached an agreement to sell the 10 % stake it held in Compañía Logí stica de H idrocarburos (CLH) to investment company Ardian for 325 million euros.

This sale is part of a program to optimise Repsol's portfolio through selective divestments of non - strategic assets launched after the acquisition of Talisman Energy , which significantly increased production and the quality and quantity of Repsol’s asset base .

The sale of CLH will generate a capital gain for Repsol of 300 million euros. The company has carried out an extensive process involving almost 150 potential investors , generating significant interest and competition, before selecting the winning bid .

Following this agreement, in which BBVA has acted as Repsol’s exclusive financial advisor , investment company Ardian holds a 25% stake in CLH.

About CLH

CLH is the leading company in Spain for oil product transportation and storage and is o ne of the largest private companies in its sector internationally . CLH provides services to most oil product operators in Spain.