YPF Repsol: Spain warns Argentina of oil seizure response
17-Apr-2012 (2 comments)

The Spanish government has warned it will defend its interests as a row with Argentina over the nationalisation of oil company YPF intensifies.

Promising a "clear and overwhelming" response, the government summoned the Argentine ambassador to Madrid to express its concern.

The majority stake in YPF is owned by Spanish oil firm Repsol.

Repsol shares fell by 8% in early trading in Madrid and the firm has vowed to demand compensation.

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Nationalising YPF

  • Spain's Repsol has hitherto owned 57.4% of shares with 25.5% belonging to Argentina's Petersen, 0.02% to the Argentine government and 17% traded on stock exchanges
  • The Argentine government proposes to seize 51% of the shares, all of which will be taken from Repsol's stake, leaving the Spanish firm with 6.4%
  • The expropriated shares will in turn be divided between the Argentine government and provincial governors
  • Following the expropriation, Petersen will retain its 25.5% stake and 17% of the shares will continue to be traded


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