Repsol YPF Chief Executive Antonio Brufau said Tuesday in Moscow that the company bought back a 10% stake from Sacyr-Vallehermoso SA (SYV.MC) at a 5% discount to the market price.

Brufau, who is in Russia to sign a joint venture with Sweden-listed Alliance Oil Ltd. (AOIL-SDB.SK), said the buyback agreement reflects a "very attractive price."

-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 232-9192, jacob.pedersen@dowjones.com

(William Mauldin in Moscow contributed to this article.)