As it was announced by YPF, our Argentinean subsidiary, Repsol has completed the sale of a block of 1,985,823 shares, representing 0.5% of the shares that our company owns.
The block has been sold entirely in the local Argentinean market, among institutional investors, at a price of 177 pesos per share (US$ 43 per share). The total value of the transaction was US$ 85.3 million. This is a very relevant transaction for the Argentine market, since it represents aproximately 7 days of trading (considering the total average trading of the market since the beginning of the year). It also shows the significant interest and support of the local investment community in the equity story of our subsidiary.
After this divestment, our YPF stake will be 57.44%. If we take into account the call option of Eton Park, a further 1.63% that could be executed before January 2012, our YPF stake would then be 55.81%.