Apache Sheds Argentina Unit In $852M Deal

Law360, New York (February 12, 2014, 6:13 PM EST) -- After generating roughly $7 billion in cash from asset sales over the last two quarters, Texas-based oil and gas company Apache Corp. handed off its Argentina-based operations to YPF Sociedad Anonima in a cash-and-debt deal worth $852 million, according to a Tuesday statement.

Under the terms of the transaction, Argentine energy company YPF will pay $800 million in cash and assume $52 million in bank debt, according to the statement. YPF has already laid out a $50 million deposit on the transaction.

Selling off the assets...
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