YPF to Sell More Shares in US

YPF to Sell More Shares in US

Argentina

Spain’s Repsol has filed to sell another 15% of the Argentine YPF unit on the New York stock exchange, consistent with its long term efforts to reduce holdings in YPF. The sale of 59.00m shares would raise $2.36bn if done at the $39.93 “proposed maximum offering price” indicated in the documents. The ADRs closed Monday at $40.00. The timing and final terms “will be decided” the company says, without indicating specific details. Repsol owns 84% of YPF, and has indicated that its long-term plan is

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