June 26 (Reuters) - Spanish energy company Repsol (REP.MC) , opens new tab said on Thursday it has agreed to sell a 24% stake in Indonesia's Corridor Block gas operation to Jakarta-listed Medco Energi (MEDC.JK) , opens new tab for $425 million.

The deal is part of Repsol's strategy to dispose assets to raise cash to fund investments in renewable energy.

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According to its own calculations, the sale will have a positive impact of about $70 million on its full-year income and it will help reduce its net debt by about $350 million, Repsol said.

The company expects the transaction to be closed in the third quarter of 2025.

https://www.reuters.com/business/energy/repsol-sells-stake-an-indonesian-gas-operation-425-million-2025-06-26/