Oman Oil Company sells stake in Spanish group

25 May 2015

State-owned investment company divests 5 per cent stake

  • OOC has divested 5 per cent stake in Spain’s Enagas through secondary block trade
  • Shares were marketed globally by book-runners Citigroup and Deutsche Bank

Oman Oil Company (OOC) has divested its 5 per cent stake in Spanish gas company Enagas through a secondary block trade.

The shares were marketed globally by book-runners Citigroup of the US and Deutsche Bank of Germany, with the majority of investors from the US and Europe, the Omani state-owned investment company said.

Enagas operates Spain’s gas grid and owns four liquefied natural gas (LNG) regasification terminals in the country.

“OOC has been privileged to be a significant shareholder in Enagas since June 2009,” says OOC’s CEO Isam bin Saud al-Zadjali. “OOC’s divestment is simply a factor of portfolio management – after holding its stake for almost six years.”

OOC has more than 40 assets in 15 countries. In Spain, the company also owns 10 per cent of oil transportation and storage group Compania Logisitica de Hidrocaburos (CLH).

Stay informed with the latest in the Middle East
Download the MEED app today, available on Apple and Android devices

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications