The Government took over YPF and will expropriate 51% of the company

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The Government took over YPF and will expropriate 51% of the company

Second week
April 2012

Following several weeks filled with rumors, the government finally seized YPF and sent a bill to Congress that declares “hydrocarbon self-sufficiency, as well as its exploitation, industrialization, transportation and commercialization, is a matter of public interest and a national priority”.

 

The bill also states that YPF S.A. be declared of public usefulness and thus be subject to an expropriation of 51% of its Class D shares owned by Repsol YPF.