March 10, 2014
Brufau: Compensation must be enough to 'drop complaint'
The president of Repsol referred to the recently sealed deal between Buenos Aires and the Spanish company to settle a compensation agreement over the expropriation of YPF last year. “The more the better,” he said.
“What we collect must be a real number and that justifies us dropping legal disputes,” Antonio Brufau told reporters when he was asked to comment on the accord that was approved last week by Repsol’s board and that would involve 5 billion dollars in compensation. In return, the Spanish firm would drop its complaint to the World Bank.
Argentina seized Repsol's majority stake in the Buenos Aires-based energy firm YPF last year, arguing the Spanish company had not invested enough.