March 5, 2018 / 2:03 PM / 3 months ago

YPF says subsidiary being partly sold to GE worth $1.1-$1.24 bln

BUENOS AIRES, March 5 (Reuters) - YPF Energia Electrica, the electricity subsidiary of Argentine state-owned oil company YPF SA which is being partly sold to General Electric Co , has an implied valuation of $1.1-$1.24 billion, YPF said on Monday.

GE plans to purchase a 25 percent stake in the subsidiary. YPF is also in discussions with an unnamed third party to sell an additional 25 percent stake, Chief Financial Officer Daniel Gonzalez said in the company’s fourth quarter 2017 earnings call. (Reporting by Luc Cohen)

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