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...But there was a catch: when Argentina partially privatised YPF in 1993, YPF amended the company’s bylaws requiring that the country would tender for the shares according to a formula if Argentina ever renationalised...
...The case risks becoming a headache for the pro-market president, who has attempted to distinguish himself from the left-leaning Peronist politicians who expropriated YPF....
...Argentina’s stock market was closed for a holiday on Monday, but US-listed shares in energy company YPF SA rose 22 per cent in pre-market trading....
...Buenos Aires governor Axel Kicillof — a member of Argentina’s ruling Peronist faction who oversaw the YPF expropriation, and whose comments about it being “stupid” to comply with YPF’s bylaws were quoted...
...Milei, who has called former UK prime minister Margaret Thatcher one of his political heroes, has said he intends to privatise “anything that can be in private hands”, including the state energy firm YPF...
...Originally founded in 1922 as a state-run company, YPF was privatised in 1993....
...The company, whose current portfolio represents a potential value of at least three times that of the YPF claim, can also now afford a lengthy battle, having recouped its original investment into YPF litigation...
...The Buenos Aires stock market was closed for a public holiday, but US-listed shares in state-controlled energy company YPF SA — which Milei has promised to privatise fully — rose almost 40 per cent....
...US-listed shares in state-controlled energy company YPF SA rose almost 40 per cent. The Buenos Aires stock market was closed for a public holiday but reopens this morning....
...Shares in YPF rose more than 6 per cent to $4.46 in midday trading on Monday....
...YPF claims account for $773m, or 38 per cent of Burford’s capital provision assets, and 53 per cent of the “capital provision income”....
...Petersen went bankrupt after the Argentine government nationalised energy company YPF in 2012, taking its 25 per cent stake....
...As little as four years ago, the state oil company YPF estimated that the break-even oil price for wells in Vaca Muerta to be economically viable was about $80 a barrel....
...That was just a promise when I came back to Argentina to lead YPF six years ago....
...One of Argentina’s biggest companies, YPF will continue its drive to develop the country’s huge shale resources and emulate the boom in the US, which remains the top priority....
...Although developing its shale resources remains the top priority, YPF also wants to refocus on conventional production....
...Mr Galuccio tripled YPF’s market capitalisation to $15bn....
...market relations officer at YPF and former CFO at Jagercor Energy Corp....
...YPF, which owns 50 per cent of the concessions at Vaca Muerta, saw its New York-listed American depositary receipts rise 12.9 per cent on Tuesday....
...“Shale is the future of hydrocarbons in Argentina,” says Daniel González, chief financial officer of YPF....
...“If YPF needs me, I am going to be here, and if YPF has someone better to run its business, I will be happy to see the company embark on a new phase.”...
...Those results had been boosted by an exceptional €500m gain related mostly to funds received for YPF, a former subsidiary that was renationalised by the Argentine government....
...He has criticised a sharp increase in YPF’s debt to about $7bn from $2bn in 2012, when Mr Galuccio took the helm after the former government seized a 51 per cent stake in YPF from Spain’s Repsol....
...YPF’s overall investment fell last year to 61.2bn pesos ($4.2bn), $2bn less than originally planned....
...However, those results were boosted by an exceptional gain of €500m related mostly to funds received for YPF, a former subsidiary that was renationalised by the Argentine government....
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