Repsol ends ties with nationalized YPF in Argentina, earns $6.3 billion in bond, share sales

0

MADRID – The Repsol energy company says it has ended its ties with Argentina’s YPF with final bond and share sales this month totalling $6.3 billion.

Spain’s largest petroleum company said it sold $4.99 billion in Argentine government bonds to J.P. Morgan Securities in three batches, including a final $117.36 million sale completed Friday.

Repsol received those bonds to compensate for Argentina’s 2012 nationalization of Repsol’s controlling stake in YPF. Repsol had purchased a 98 per cent stake in Argentina’s oldest oil and gas company in 1999.

Repsol said it sold its remaining shares in YPF in two deals: an 11.86 per cent stake sold earlier this month to Morgan Stanley for $1.25 billion, and a final 0.48 per cent holding for $60 million to a buyer that Repsol declined to identify Friday.

Leave a comment

Your email address will not be published. Required fields are marked *