YPF Board Says 2012 Investment to Reach 15 Billion Pesos

YPF SA (YPFD) will invest a record 15 billion pesos ($3.44 billion) in 2012, up from 13.3 billion a year earlier, the company’s board decided today, a company official, who can’t be named because the announcement isn’t public, said in a telephone interview.

The government representative voted against the board’s proposal to use 91 percent of the company’s profit to capitalize the company, the official said. The capitalization was approved by the rest of the board and will be submitted for approval to a general shareholders meeting on April 25.

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: Robin Saponar at rsaponar@bloomberg.net

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