After 25 years of joint business, El Corte Inglés has sold 45% of the service station business (Gespevesa) to Repsol (REP). Thus, Repsol retains 95% of the company and El Corte Ingles keeps a symbolic 5%.
In any case, El Corte Ingles will continue to be the reference supplier of the service stations. Gespevesa manages 40 service stations, with a turnover of €60 million, registering a negative result of €4.1 million last year due to a series of impairments.
The sale price has not been disclosed, but the accounts of El Corte Inglés indicate a capital gain of €3.1 million.
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