EIG Completes Acquisition of 25% of Repsol’s Entire Global Upstream Business
EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its acquisition of a 25% interest in Repsol Upstream, a newly-formed, gas-weighted exploration & production company comprising Repsol’s entire global upstream oil and gas business.
Breakwater Energy, a wholly owned subsidiary of EIG, acquired the 25% interest in Repsol Upstream for total consideration of approximately $4.8 billion, including debt, with Repsol holding the remaining 75%.
Repsol Upstream owns and operates Repsol’s globally diversified portfolio of upstream assets, comprising more than 600,000 boe/d of production and operations in 15 countries, including the United States. The portfolio generates significant free cash flow that should support a meaningful dividend, while also maintaining relatively low carbon intensity versus peers. Both Repsol and EIG foresee the potential to list the business in the United States from 2026 onward, subject to favorable market conditions.
“Repsol is a leader in the energy transition, and we are pleased to have completed this transaction with a global company that shares our commitment to reducing emissions while meeting the world’s energy demands,” said R. Blair Thomas, EIG’s Chairman and CEO. “The transaction sets Repsol Upstream on a path toward an accelerated decarbonization future, strong cash flow generation and potential market liquidity.’’
As previously announced, EIG will have the right to nominate two members to Repsol Upstream’s eight-member Board of Directors. Four will be nominated by Repsol and the remaining two will be independent. EIG will also appoint two senior executives to Repsol Upstream’s leadership team, one to serve as ESG Director and the other to lead special projects, including IPO preparedness.
Goldman Sachs & Co LLC and J.P. Morgan acted as financial advisors to EIG in connection with the transaction. Goldman Sachs & Co LLC, J.P. Morgan and Lazard acted as capital markets advisors in connection with the financing of the transaction. Latham & Watkins and Debevoise & Plimpton served as EIG’s legal advisors.
About EIG
EIG is a leading institutional investor in the global energy and infrastructure sectors with $22.7 billion under management as of December 31, 2022. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 40-year history, EIG has committed over $44.6 billion to the energy sector through 396 projects or companies in 42 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.
About Repsol
Repsol is a global multi-energy company that is leading the energy transition. It has set itself the goal of becoming a net zero emissions company by 2050. It is present throughout the energy value chain, it employs 24,000 people, and it distributes its products in more than 90 countries to 24 million customers.
The company can meet any energy and mobility needs of consumers, with a customer-centric offering. It is at the forefront of developing sustainable solutions for mobility, with increasingly efficient fuels, electric recharging, renewable fuels (advanced biofuels and synthetic fuels), AutoGas, and natural gas for vehicles.
To achieve net zero emissions by 2050, Repsol is committed to a model that integrates all decarbonization technologies, based on improving efficiency, increasing its renewable electricity generation capacity, the production of renewable fuels, the development of new solutions for customers, the circular economy, and the promotion of cutting-edge projects to reduce the industry's carbon footprint.
For more information, visit www.repsol.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230301006106/en/
Contact information
Media
EIG
FGS Global
Kelly Kimberly / Brandon Messina
+1 212-687-8080
EIG@FGSGlobal.com
Repsol
+34 91 753 8787
prensa@repsol.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
500 Global Expands Africa Presence; Selected to Advance Digital Morocco 2030 Strategy18.12.2025 22:37:00 EET | Press release
500 Global, one of the world’s most active venture capital firms1, announced it has been selected to support the Ministry-led Startup VB initiative, a flagship program under the Digital Morocco 2030 strategy2. This announcement marks a significant milestone in 500 Global’s continued expansion across the African continent and its work collaborating with governments to strengthen national innovation ecosystems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251218363323/en/ Announcement of 500 Global's continued expansion across Africa and support of Digital Morocco 2030 Launched by the Ministry of Digital Transition and Administrative Reform (Ministry) and deployed by TAMWILCOM, the Startup VB initiative is a flagship program under the Digital Morocco 2030 strategy. Startup VB aims to strengthen Morocco’s innovation and digital competitiveness by accelerating high-potential founders and providing the training and financing pa
Neural Concept Closes $100M Funding Round Led by Growth Equity at Goldman Sachs Alternatives to Scale AI-Native Engineering18.12.2025 18:00:00 EET | Press release
Neural Concept, a global AI platform and leader in Engineering Intelligence powering next-generation product development, today announced it raised a $100 million Series C funding round led by Growth Equity at Goldman Sachs Alternatives, with existing investors Forestay Capital, Alven, HTGF, D.E. Shaw Ventures and Aster Capital. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251218764112/en/ Image courtesy of Neural Concept (L-R clockwise from top) Jonathan Donier, CSO & Co-founder; Thomas von Tschammer, Managing Director US & Co-founder; Théophile Allard, CTO & Co-founder; Pierre Baqué CEO & Co-founder; Philippe Cuendet, COO Neural Concept is redefining engineering workflows with CAD-native enterprise AI that understands geometry, constraints and design intent. By helping its customers build and deploy physics-aware design copilots, the platform enables teams to explore millions of design options earlier and avoid costly la
Croma-Pharma Introduces New Medical Device for the Preparation of Autologous PRP | Fluid- PRF18.12.2025 17:57:00 EET | Press release
Croma-Pharma, a global player in minimally invasive aesthetic medicine, proudly announces the launch of its new medical device that is used for the preparation of autologous Platelet-Rich Plasma (PRP) | Fluid-Platelet-Rich Fibrin (Fluid-PRF).1 This launch represents continued progress in Croma’s mission to provide healthcare professionals state-of-the-art tools for their practice. With its innovative design and optimized separation technology, Exprecell™ enables the efficient preparation of autologous blood concentrates, without the use of anticoagulants, resulting in the formation of Fluid-PRF, a biologically active concentrate that retains the regenerative properties of platelets and leukocytes, yet stays liquid for a defined period.1 What makes Exprecell™ special? MDR certification: Exprecell™ is MDR-certified, meeting stringent EU regulatory requirements to ensure the safe, controlled and standardized preparation of autologous Platelet-Rich Plasma (PRP) | Fluid-Platelet-Rich Fibrin
Laserfiche is a Leader in Info-Tech Research Group’s Enterprise Content Management - Enterprise Data Quadrant18.12.2025 17:00:00 EET | Press release
Laserfiche — the leading SaaS provider of intelligent content management and business process automation — is a Leader in the Enterprise Content Management – Enterprise Data Quadrant Report from Info-Tech Research Group. With the most reviews of any vendor and a composite score of 9.1, Laserfiche was positioned highest for Product Features and Satisfaction. “Laserfiche is honored to be recognized as a Leader in the ECM Data Quadrant at a moment when AI is transforming every aspect of how organizations create value from their data,” said Thomas Phelps IV, CIO and SVP of corporate strategy at Laserfiche. “We’re especially appreciative of the more than 400 reviews contributing to our +94 net emotional footprint and the 99% of users who indicate ‘they love the Laserfiche platform.’” The Info-Tech Data Quadrant evaluates and ranks products, capabilities and features based on feedback from IT and business professionals. In another Info-Tech report, “Transform Efficiency, Productivity & Compl
Interactive Brokers Redesigns IBKR GlobalTrader App for Simpler, Smarter Mobile Trading18.12.2025 17:00:00 EET | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced the launch of its redesigned IBKR GlobalTrader mobile app. The updated trading platform reflects the firm’s commitment to delivering intuitive, accessible tools for investors at every experience level. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251218345494/en/ IBKR GlobalTrader The new version offers a faster and more powerful interface with new capabilities, including integrated access to forecast contracts, AI-generated news summaries, and a redesigned Explore section that helps investors identify opportunities across global markets. Investors can trade stocks, ETFs, options, access cryptocurrencies, and more – all from a streamlined mobile app. IBKR GlobalTrader complements IBKR Mobile, the firm’s flagship mobile trading platform, by offering a streamlined experience for users who value simplicity. The redesign enhances usabili
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom