Repsol YPF sells its participation in Repsol Autoclub to Mutua Madrileña

Press Release 27/12/2006 00:00
  • The agreement consolidates the loyalty of more that 2 million clients for Repsol YPF’s network of service stations.
  • Repsol YPF acquires 100% of the outstanding shares of Euro 24, a company specializing in services for the professional transport sector.

Repsol YPF has sold to Mutua Madrileña its 50.1% stake of Repsol Autoclub, Spain’s most widely recognized and the market leader in personal auto driver services. This transaction, three years after the Club’s creation, has consolidated the loyalty of more than 2 million clients for the Repsol, Campsa, and Petronor service station network.

The agreement, in which AON Gil y Carvajal also sells its 20.4% stake in the autoclub, makes Mutua Madrileña the sole shareholder and manager of the entity. As part of the transaction, Mutua Madrileña will benefit form the use of the trade name “Autoclub Repsol” and maintain the discounts and other benefits for Club members at Repsol, Campsa, and Petronor service stations, for a 5 year period.

Repsol YPF’s Chairman, Mr. Antonio Brufau, has signaled, that “once the commercial objectives are attained, this will assure the continuity of the program based on client fidelity toward our service stations in Spain.

For José María Ramírez Pomatta, Chairman of Mutua Madrileña, “the acquisition represents organic internal growth, opening the door to greater business development opportunities. Mutua increased in size and capacity to compete with other similar companies in the sector and confirms its leading rates of growth, liquidity, and returns”.

The President of AON Gil and Carvajal, Rafael Esteban, has referred to the success of this business project and the exceptional collaboration developed between the represented parties as, “In less than two years it attained exceptional results and consolidated its leadership position in the auto club sector”. Likewise, he noted that “AON will continue its collaboration with Mutua Madrileña and Repsol YPF, persisting in the good relationship they have historically maintained”.

Repsol YPF strengthens its leadership position in fidelity programs in the service station sector in Spain, lead by its Chairman, Antonio Brufau, counting on the loyalty of more than 12 million clients through its programs with Solred, Travel Club, Visa Repsol, and Repsol Autoclub, among others.

By virtue of this agreement, Repsol YPF gets 100% ownership of Euro 24, increasing its strategic focus of providing client services to the professional trasnport sector.