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Macquarie plans to sell its 20% stake in Spain's Exolum, Cinco Dias says

·1-min read
FILE PHOTO: The logo of Australia's biggest investment bank Macquarie Group Ltd adorns the main entrance to their Sydney office headquarters in Australia

MADRID (Reuters) - Australia's investment bank Macquarie Group plans to sell its 19.87% stake in Spanish oil pipeline and storage operator Exolum, Spanish newspaper Cinco Dias reported on Monday, citing unidentified financial sources.

The stake could be worth 1 billion euros ($998 million), the newspaper said.

Macquarie and Excolum did not immediately respond to requests for comment.

Two months ago, rival newspaper Expansion reported Canadian pension fund Omers, Exolum's second-largest shareholder after U.S. buyout fund CVC, was planning to sell its 24.61% stake.

($1 = 1.0024 euros)

(Reporting by Inti Landauro; editing by Jason Neely)