Argentine Government Decides to Take Over YPF, Pagina 12 Says

Argentina’s government has decided to take over YPF SA and is debating whether to expropriate the oil company or buy a stake and control its management, Pagina 12 reported, citing officials it didn’t identify.

Whichever solution is chosen, the government will need the approval of Congress, the Buenos Aires-based newspaper said.

The government has been angered by YPF’s policy of paying out all its profits in dividends, at a time when the state is looking to boost investment and lift oil production, Pagina 12 said. The oil company’s largest shareholder is Spain’s Repsol YPF SA with 57 percent.

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