MADRID, Mar 14 – Spanish oil major Repsol Monday announced the sale of 3.83 percent of its Argentine subsidiary YPF to investment fund Lazard Asset Management and other investors for $639 millions (458 millions euros).
The deal values YPF at $16.68 billion (11.96 billion euros).
Lazard will take a 2.9 percent stake for $484 million (347 million euros), while other investors, which Repsol did not name, will buy 0.93 percent for $155 million (111 million euros).
Following the latest sale, Repsol will hold 75.9 percent of the Argentine group, but hopes to eventually reduce that to 51 percent.
