UPDATE 4-Repsol completes Argentine exit with $1.3 bln YPF sale

miércoles 7 de mayo de 2014 10:41 GYT

* Repsol sells 11.86 percent of YPF through Morgan Stanley

* Says to make $622 million pre-tax capital gain

* Sale follows Argentine compensation for 2012 YPF seizure

* Repsol shares up 0.4 percent (Adds Morgan Stanley comment on stake placement)

By Tracy Rucinski

MADRID, May 7 (Reuters) - Spanish oil major Repsol bid farewell on Wednesday to 15 years of business in Argentina with the $1.3 billion sale of a stake in energy firm YPF , opening a new era that is likely to focus on acquisitions.

The sale through Morgan Stanley, which follows a $5 billion settlement with Argentina over its 2012 expropriation of a 51 percent stake in YPF from Repsol, ends a thorny chapter in the Spanish company's history.

Morgan Stanley placed the YPF stake in a block trade in the market overnight, spokesman Michael Wang said. Earlier, Repsol issued a statement saying it had sold the stake to Morgan Stanley.

Madrid-based Repsol has been seeking growth opportunities in exploration and production as it tries to increase hydrocarbons output. YPF had accounted for over half of Repsol's production.   Continuación...