Sunday
November 23, 2014
Thursday, February 27, 2014

Repsol signs agreement for YPF expropriation

Economy Minister Axel Kicillof signing the agreement with Spanish Repsol in Buenos Aires City. (TÉLAM)

In Buenos Aires City, the Federal Government led by President Cristina Fernández de Kirchner officialised the compensation agreement with Spanish Oil Company Repsol, and signed a 5 billion dollars deal for 51 percent of YPF shares.

Economy Minister Axel Kicillof represented the Argentine delegation, alongside Repsol’s general secretary of the Administrative Council, Luis Suárez de Lezo Mantilla, who was accompanied by the Business Division general director, Nemesio Fernández Cuesta Luca De Tena.

As stated in the document, “Repsol accepts in all senses the sum of five billion dollars, to be paid with sovereign bonds as a compensation for the expropriation,” informed a press statement released by the Economy Ministry.

For final confirmation, the agreement still has to gain ratification from Congress and the approval of Repsol’s general stockholders assembly, which will meet on March 28.

  • 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:  Argentina  US  YPF  Repsol  Spain  CFK  





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

COMMENTS >

Comment

Related Information




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

Director: Orlando Mario Vignatti - Edition No. 4319 - This publication is a property of NEFIR S.A. -RNPI Nº 5177376 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA