By Paul Tobin
Nov. 13 (Bloomberg) -- Sacyr Vallehermoso SA, the worst performer in Spain's benchmark stock index this year, has held talks with possible buyers of its 20 percent stake in Spanish energy company Repsol YPF SA.
The Madrid-based builder hasn't reached any agreement, Sacyr said in a statement today following a request from market regulators.
OAO Gazprom, the world's largest gas company, is considering buying the stake, Russian Deputy Prime Minister Alexander Zhukov said yesterday in Madrid. Sacyr said its studying options including a sale for the Repsol holding and other assets.
Sacyr spent 6.5 billion euros ($8.1 billion) on the Repsol stake in 2006, paying an average of 26.71 euros a share. The holding is worth 3.4 billion euros at current market prices. The Spanish company needs to sell assets to reduce debt.
Sacyr added 4 cents, or 0.5 percent, to 7.59 euros as of 1 p.m. in Madrid. Repsol lost 2 percent to 13.95 euros.
To contact the reporter on this story: Paul Tobin in Madrid at ptobin@bloomberg.net
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