Oman Oil Holdings Spain, a wholly-owned subsidiary of Oman Oil Company (OOC) has sold its 5% share in Spanish energy firm Enagás.
The sellout took place in a secondary block trade with Citigroup and Deutsche Bank the joint book runners, Oman Daily Observer reported.
Enagás shares were marketed globally with the majority of investors from the US and Europe reaching substantial oversubscription, accoridng to the local paper.
Esam bin Saud al Zedjali, CEO of Oman Oil, commented: “OOC has been privileged to be a significant shareholder in Enagás since June 2009.
“Enagás has demonstrated superior performance, as demonstrated by the appreciation of its share price. OOC’s divestment is simply a factor of portfolio management — after holding its stake for almost six years.”
