Citi and Deutsche left holding Repsol shares after Pemex’s block uncovered

By Nina Flitman
05 Jun 2014

Lead banks Citi and Deutsche were left holding a chunk of Spanish oil firm Repsol's shares after failing to sell all of the €2.09bn block from Mexico’s Pemex.

Although people away from the deal had conjectured that between a half and two thirds of the 7.86% stake had remained on the banks’ books, bankers close to the transaction said that their holding was far below this level, and remained unfazed by their continued exposure.    

“The ...

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