YPF takes control of Metrogas

YPF announced it has taken control of Metrogas, after acquiring 54.67 percent of the shares of Gas Argentino (GASA) from the company British Gas (BG).

This action leaves the oil company as the main stockholder and controller of 70 percent of the main gas distribution company of the country.

Besides, the communiqué details that Enargas and the Defence Competition National Committee are the main organizations responsible of giving the final approval of this operation.

Meanwhile, the firm presents a difficult economic situation and registered losses in the first semester of the year, reaching $55.7 million pesos, 214.3 percent higher than the one reached in the same period in 2011.