23 December 2010 - 00:00 CET | PDF | 38.46 KB
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Additionally, agrees to issue warrants for a further 1.63%
Repsol agrees to sell another 3.3% of YPF for $500 million
Press Release
23/12/2010 16:50
- Repsol reaches an agreement with funds advised by Eton Park Capital Management (“Eton Park”) and funds advised by Capital Guardian Trust Company and Capital International, Inc. (“Capital”) to sell a 1.63% stake in YPF to each.
- This transaction is part of Repsol's strategic plan to rebalance its portfolio of assets.
- The $39/share transactions are in line with the most significant sales carried out in the last few weeks.
- Additionally, Eton Park acquired warrants to purchase up to an additional 1.63% of YPF, exercisable until January 2012 at $43/share.
- YPF is Argentina’s largest privately-owned company and one of Latin-America’s leading energy companies.
- “These transactions help to increase the value of Repsol and brings us closer to achieving one of our key strategic goals,” said Repsol Chairman Antonio Brufau.