Repsol YPF SA aims to sell part of its stakes in its Argentine unit to local investors, chief executive officer Antonio Brufau said.
Spain’s largest oil company is seeking Argentine partners in YPF SA, as the unit is called, either through a private sale or a share sale, Brufau told reporters in Buenos Aires.
“The thing is it will take time because Argentine is a difficult place to gather funds and I don’t need investors in New York, I want local ones,” he said. Repsol owns 84 percent of YPF and Argentina’s Petersen Group has a 15.4 percent stake.
To contact the reporter on this story: Rodrigo Orihuela in Buenos Aires at email@example.com
To contact the editor responsible for this story: Tim Smith at firstname.lastname@example.org