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Repsol accepts $5 billion in compensation from Argentina for expropriation of YPF stake

11:24 AM MST | February 28, 2014 | Ian Young

Repsol says that its board has accepted a $5-billion offer of compensation from the Argentinian government for Argentina's expropriation of a 51% stake in YPF (Buenos Aires) and YPF Gas from Repsol. The board will submit the agreement to be ratified by shareholders at Repsol's next annual meeting. "The agreement with Argentina will add income from the recovered value, reinforcing the company's financial strength and increasing Repsol's growth and investment capacity during the next few years," Repsol says. The Argentinian government expropriated the 51%...

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