Deals
YPF Won't Overpay for Petrobras Argentina Assets, CFO Says
- Company knows `real value' of unit, price must meet criteria
- CFO declines to confirm or deny report that YPF dropped bid
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YPF SA, Argentina’s largest company, knows the fair value of Petroleo Brasileiro SA’s local assets and will only proceed with an acquisition if the price meets its criteria, Chief Financial Officer Daniel Gonzalez said.
The executive declined to confirm or deny an article published Wednesday in La Nacion newspaper that said YPF abandoned a bid after Petrobras Argentina asked it to raise its reported $900 million offer for a 67 percent stake.