A former chief executive of YPF SA (YPF), Sebastian Eskenazi,
told Antonio Brufau, chairman at parent company Repsol YPF SA
(REP.MC), that he won't immediately seek to enforce a buyback
option on YPF, Bloomberg News reported Wednesday on its website,
citing two people familiar with a meeting between the two men last
week in Madrid.
The Eskenazi family, holders of a 25% stake in YPF, is instead
looking at other options for that stake after the Argentine
government seized control of the unit last week, a person told
Bloomberg. Repsol, in 2008, agreed to buy back the stake should
Repsol lose control of YPF.
The family is awaiting a decision by the Argentine congress as
to whether to approve a bill to nationalize a 51% stake in YPF.
Full story at:
www.bloomberg.com/news/2012-04-25/eskenazi-said-to-tell-repsol-he-won-t-enforce-ypf-buyback-pact.html
-Dow Jones Newswires; 212-416-2900