Repsol Sells 3.8% of YPF for $639 Million, Plans Offering
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Repsol YPF SA, Spain’s biggest oil company, agreed to sell 3.83 percent in YPF for $639 million, cutting its holding in the Argentine unit to 76 percent, and said it plans to sell more shares through a public offering.
The company will sell a 2.9 percent stake to Lazard Asset Management and 0.93 percent to other investors for $42.40 a share, Madrid-based Repsol said today. A further 1.06 percent stake was sold in the market in the last few months and Repsol plans a public offering of as much as 7.1 percent of YPF through a sale of American depositary shares.