Sacyr to get third board seat on Repsol

Repsol YPF, Spain's largest oil company, is to give construction company Sacyr Vallerhermoso a third seat on its board at the next annual general meeting in 2007, according to a media report. Sacyr Vallehermoso raised its stake in Repsol up to almost 17% in November as it moves closer to a full acquisition of the oil company. Days ago it was reported that Sacyr was to get two seats on the board, but website ElConfiencial now says Respol tends to offer a third seat on its own initiative as Sacyr now controls up to 20% of the shares.

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