Skip to content
Subscriber Only

Argentine Congress Approves $5 Billion Payment to Repsol for YPF

Argentina’s lower house gave final approval to the government’s plan to pay Repsol SA $5 billion compensation for its expropriation of control of the Spanish company’s YPF SA unit in 2012.

Argentina will issue as much as $6 billion in bonds to ensure that Madrid-based Repsol receives at least $5 billion for 51 percent of the South American country’s biggest oil and gas producer, according to the bill that was passed by the Senate March 26. Lawmakers approved the proposal after about 16 hours of debate at 4 a.m. today with 135 votes in favor, 59 against and 42 abstentions, according to Infobae.