Repsol to Weigh YPF Compensation Brokered by Governments
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Repsol SA’s board will consider a proposal negotiated by the governments of Spain and Argentina to compensate the Madrid-based company for its stake in YPF SA.
Spanish Industry Minister Jose Manuel Soria and Argentina’s newly appointed Economy Minister Axel Kicillof reached a preliminary accord in meetings with company officials in Buenos Aires yesterday, according to government statements. Emilio Lozoya, chief executive of Petroleos Mexicanos, a minority holder in Spain’s largest oil producer, also attended.