Repsol sells $6.3B in Argentine bonds, YPF shares
MADRID (AP) — The Repsol energy company says it has ended its ties with Argentina’s YPF with final bond and share sales this month totaling $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 percent 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 percent stake sold earlier this month to Morgan Stanley for $1.25 billion, and a final 0.48 percent holding for $60 million to a buyer that Repsol declined to identify Friday.