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
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