The agreement also provides that the Petersen Group may increase its interest up to 25% through an option to purchase an additional 10.1%. Within a maximum of four years after the purchase, the Petersen Group may exercise, under equivalent financial conditions, an option to purchase an additional 10.1% of YPF’s capital.
Antonio Brufau, chairman and CEO of Repsol YPF, said: The entrance of the Petersen Group represents the addition of a strategic business partner for YPF, joining the company as a permanent shareholder, that knows the Argentine market and the economic and business environments of Argentina well and will assist with strengthening of YPF’s projects in the country and throughout the region.
