Spain Repsol sells 11.86% stake in Argentina YPF

07 May 2014 21:32 Source:ICIS News

HOUSTON (ICIS)--Repsol has sold an 11.86% stake in Argentina state energy producer YPF for $1.26bn, the Spanish energy producer said on Wednesday.

The sale left Repsol with a stake that is less than 0.5% in YPF.

Repsol once owned a majority stake in the company. However, the government expropriated most of that stake in in 2012.

Earlier this year, Argentina agreed to pay Repsol $5bn in compensation for the takeover.

By Al Greenwood