Repsol sells stake in an Indonesian gas operation for $425 million
June 26 (Reuters) - Spanish energy company Repsol (REP.MC), opens new tab said on Thursday it has agreed to sell a 24% stake in Indonesia's Corridor Block gas operation to Jakarta-listed Medco Energi (MEDC.JK), opens new tab for $425 million.
The deal is part of Repsol's strategy to dispose assets to raise cash to fund investments in renewable energy.
According to its own calculations, the sale will have a positive impact of about $70 million on its full-year income and it will help reduce its net debt by about $350 million, Repsol said.
The company expects the transaction to be closed in the third quarter of 2025.
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