Spain's Repsol surrenders board seats at Argentina's YPF

martes 6 de mayo de 2014 02:12 GYT

BUENOS AIRES May 6 (Reuters) - Spanish oil company Repsol will surrender its presence on the board of Argentina's YPF, having not applied for renewal of its two board seats at an assembly last week, a document sent by YPF late on Monday showed.

Repsol still holds a 12 percent stake in YPF even after the Argentine government seized its majority holding in the group two years ago, but it has said it is considering selling the stake once it receives compensation for the expropriation.

Repsol is set to receive $5 billion in bonds from Argentina as part of a recent settlement deal. (Reporting by Alejandro Lifschitz; Writing by Tracy Rucinski; Editing by David Goodman)