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Repsol board to study YPF compensation offer - source
June 24, 2013 / 8:57 AM / 4 years ago

Repsol board to study YPF compensation offer - source

MADRID (Reuters) - Spanish oil major Repsol’s (REP.MC) board will study a non-cash compensation offer from Argentina on Wednesday over the expropriation of its majority stake in energy firm YPF (YPFD.BA), a source with knowledge of the matter said.

“Argentina has made an offer through (Repsol shareholder Mexico‘s) Pemex and the board is expected to study it on Wednesday,” the source said.

A Repsol spokesman declined to comment on the board’s agenda but reiterated that the company is open to negotiating a settlement over the loss of YPF and that decisions regarding any deal are in the hands of the board.

Reporting by Tracy Rucinski and Carlos Ruano, editing by Fiona Ortiz and Sarah Morris

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