Repsol, Argentina Near $5B Deal For YPF Seizure

Law360, Los Angeles (February 25, 2014, 8:07 PM EST) -- Spanish oil giant Repsol SA said Tuesday it has reached a $5 billion deal with Argentina over assets the Argentine government seized in 2012, ending litigation between the two over the company’s shares in energy firm YPF SA.

Argentina will pay three packages of bonds worth about $4.7 billion to Repsol to end the dispute over the expropriated shares, or about 51 percent of the total ownership stake in YPF, the Spanish oil company said Tuesday.

The agreement still needs approval from Repsol’s shareholders and Argentina’s parliament,...
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