Repsol Confirms It has Received Offers For YPF
02 Julho 2009 - 4:50AM
Dow Jones News
Repsol YPF SA (REP) has received offers for its Argentinean unit
YPF, though none of the offers are binding, the Spanish oil firm
said Thursday in a regulatory filing.
The statement came after several news outlets reported that
China National Petroleum Corp. is weighing up a bid for part of
YPF.
"Repsol ....has received proposals of a different nature and
from different companies," Repsol said. The company last year tried
to float YPF on the stock exchange in Argentina, and has said it is
studying accepting new partners in the unit.
Earlier Thursday, a person familiar with the matter told Dow
Jones Newswires that China National Petroleum Corp. may bid for
some of the Argentine assets. The option is being reviewed
alongside other potential deals in South America, including a joint
bid with France's Total SA (TOT) for oil assets in Venezuela's
Orinoco heavy oil belt, said the person, declining to be named.
Separately, a report in the South China Morning Post Thursday,
quoting unnamed sources, said CNPC may offer to buy up to
three-quarters of YPF valued at about $17 billion. It also said
China's third-largest oil producer by capacity Cnooc Ltd. (CEO) is
eying a 25% stake in YPF.
Company Web site: www.repsol.com
-By Christopher Bjork, Dow Jones Newswires, +34-91-395-8123,
christopher.bjork@dowjones.com