Sinopec eyes Sacyr stake in Repsol

Sinopec Corp, China's largest refiner, is in talks to buy the 20 percent stake held by Spanish construction company Sacyr Vallehermoso in oil and gas firm Repsol YPF.

State-owned Sinopec is looking to buy the stake at 26.7 euros per share, a near 60 percent premium to its market price at present, the Shanghai-based National Business Daily reported yesterday.

Both parties are still in talks and no agreement has been reached yet, the newspaper said citing an unnamed Sinopec source.