Mexican company Petroleos Mexicanos (Pemex) will acquire an additional 5% stake in Spanish oil firm Repsol, The Wall Street Journal reports. The state-owned oil company’s stake in Repsol will be increased to 9.8% from the current 4.8%. Spanish construction firm Sacyr-Vallehermoso will maintain its 20% Repsol stake. CaixaBank, the commercial lender owned by La Caixa, also holds a 13% stake in Repsol.
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