Repsol board approves $5B settlement from Argentina for YPF

As expected, Repsol's (REPYY, REPYF) board of directors approves a definitive $5B settlement from Argentina's government over assets seized when the country's majority stake in energy firm YPF was expropriated in 2012, ending a two-year battle for compensation.

Repsol will receive a package of three dollar-denominated Argentine sovereign bonds with a nominal value of $5B as well as additional bonds with a maximum face value of up to $1B to compensate for the market discount on the first group of bonds.

The deal still must be approved by Repsol's shareholders.

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Comments (2)
  • joelkatz
    , contributor
    Comments (570) | Send Message
    Wondering where YPF will be heading tomorrow...
    25 Feb 2014, 06:55 PM Reply Like
  • MitchMeminger
    , contributor
    Comments (8) | Send Message
    On the surface, good news for Repsol; assuming it's approved by shareholders. However, as a percent of the value of YPF pre-government take-over, what might loyal shareholders stand to gain? Standing by to learn and cast my votes.
    1 Mar 2014, 01:47 PM Reply Like
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