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Repsol Agrees to $5 Billion Deal With Argentina on YPF

Repsol SA’s board agreed to accept at least $5 billion for Argentina’s expropriation of its YPF SA unit, ending a two-year international dispute.

Argentina will issue as much as $6 billion in bonds that the Spanish oil company can sell or hold until maturity, according to a Repsol filing today to regulators. The debt won’t be satisfied until Madrid-based Repsol has received $5 billion, even if the bonds default, the company said after a board meeting today. The deal requires shareholder approval.