YPF Mulls Floating 15-20% Capital, Denies Enarsa Reports
The YPF Argentine unit of Spanish oil major Repsol YPF (NYSE: REP) is considering floating 15-20% of its capital on the Buenos Aires stock exchange, the company said in a statement.
Repsol YPF plans to maintain its majority participation in the company, the statement said, specifically denying any contact with the government about the latter's reported intent to buy a 51% stake in the company. Federal planning minister Julio de Vido also emphatically denied reports state energy company Enarsa would buy a stake in YPF.
The company is waiting for an opportune moment to float the capital but there is no established timeframe yet, a YPF spokesperson told BNamericas.
"We have had neither any conversation with [YPF] nor with private buyers, nor has the state made any offer with respect to acquiring a controlling stake," de Vido said in an interview, according to a YPF document.
Visit BNamericas to
access our real-time news reports, 7-year archive, Fact File company
database, and latest research reports. Click
here for a Free two week trial to our Latin America Oil & Gas
- Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
- Repsol Says Drilling Suspended On Vietnam Oil Block Disputed By China (Aug 02)
- China Urges Halt To Oil Drilling In Disputed South China Sea (Jul 25)