Grupo Petersen exercises its option to purchase 10% of YPF
Press Release04/05/2011 00:00
Following the transaction, Repsol will hold 58.23% of YPF, while Grupo Petersen will have a 25.46% stake.
The transaction will be carried out in accordance with the agreements signed in 2008, by which Grupo Petersen bought 14.9% of YPF and, in particular, on an option contract entered into on that date.
Grupo Petersen will pay $1.304 billion for 10% of YPF, based on the formula established in 2008 for the option’s exercise.
The transaction is a significant step toward achieving the strategic objective laid out by Repsol in the Horizon 2014 plan to rebalance its global assets’ portfolio.
Repsol aims to continue incorporating international and Argentinean minority investors in YPF.