Saturday
October 25, 2014
Friday, February 21, 2014

Repsol, Argentina reach $5 billion settlement deal

YPF headquarters in Puerto Madero (TÉLAM)

Spain's Repsol said today it would book a 1.28 billion euro ($1.76 billion) impairment charge in 2013 results after writing down YPF shares that were expropriated by the Argentine government.

In a regulatory filing, Repsol said it had revalued its YPF stake at $5 billion.

The revaluation will be approved next Tuesday at Repsol's Administration Council meeting, ending a conflict that lasted two years, as Cristina Fernandez de Kirchner's administration expropriated the company in April 2012.

Repsol Administration Council had already approved the figures after gatherings with Argentine officials in November 2013, but the exact amount was revealed today.

  • CommentComment
  • Increase font size Decrease font sizeSize
  • Email article
    email
  • Print
    Print
  • Share
    1. Vote
    2. Not interesting Little interesting Interesting Very interesting Indispensable
Tags:  Repsol  Argentina  YPF  expropiation  stocks  deal  





22
  • Comment
  • Increase font size Decrease font size
  • mail
  • Print

COMMENTS >

Comment




Grupo ámbito ámbito financiero ambito.com Docsalud AlRugby.com Premium El Ciudadano El Tribuno Management

Director: Orlando Mario Vignatti - Edition No. 4291 - This publication is a property of NEFIR S.A. -RNPI Nº 5177376 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA