MercoPress. South Atlantic News Agency

Kuwait sovereign fund also interested in Repsol-YPF

The Kuwait Investment Authority, KIA, could rival a bid by Russian oil company Lukoil for the 20% stake in the Spanish oil corporation Repsol.YPF, according to the Finmarket website, which was published in Madrid's ABC newspaper.

Repsol shareholder Spanish construction corporation Sacyr Vallehermoso SA is also reported to be considering other proposals following the interest expressed by Russia's largest independent oil producer Lukoil. Last October Sacyr whose share price has dropped by almost 70% in 2008 as a direct consequence of the credit crunch, also received a proposal from China's CNPC for its 20% share in Repsol. Earlier in the months it was reported that Lukoil has requested a 5.2 billion Euro loan from several Spanish banks with the purpose of acquiring the 20% stake in the Spanish oil corporation. Lukoil, according to the Russian financial press is interested in 30% of Respsol-YPF, Spain's largest oil and gas corporation. The operation is estimated in over 5 billion Euros and includes Sacyr's 20% and the 9.9% from La Caixa and Caixa Catalunya.