Renationalization of YPF
President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization of YPF, the nation's largest energy firm. The state would purchase a 51% share, with the national government controlling 51% of this package and ten provincial governments receiving the remaining 49%. The bill was overwhelmingly approved by both houses of Congress, and was signed by the president on May 5.
President Cristina Fernández de Kirchner announces the bill to renationalize YPF. | |
| Date | 2012 |
|---|---|
| Location | Argentina |
| Participants | Government of Argentina, Repsol, government of Spain, Petersen Group |
| Outcome | Nationalization bill approved by Congress and signed on May 5, 2012; compensation agreement reached on November 27, 2013, for US$5 billion for a 51% stake. |
| Website | www.ypf.com |
The government of Argentina eventually agreed to pay US$5 billion in compensation to Repsol, which had previously owned YPF.
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