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People & Business :: M&A
Report: Billionare Soros more than doubles stake in Argentina's YPF
9:13 AM MDT | August 21, 2014 | Francinia Protti-Alvarez
Billionaire George Soros has more than doubled his stake in Yacimientos Petroliferos Fiscales (YPF; Buenos Aires), purchasing 8.47 million shares during the second quarter, Bloomberg reports. Soros's stake now stands at 3.5% of YPF's American depositary receipts. The deal was worth $450 million, according to Bloomberg. The report follows YPF's announcement last week that it had made a nonconventional shale gas discovery in the Agrio formation, to the north of Neuquén, Mendoza Province, Argentina. The discovery is YPF's third nonconventional find in...
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