Repsol says to use some of YPF compensation for acquisitions

viernes 28 de marzo de 2014 08:08 GYT

MADRID, March 28 (Reuters) - Spanish oil major Repsol will use funds from a $5 billion settlement deal with Argentina over its 2012 expropriation of YPF for acquisitions, Chairman Antonio Brufau said on Friday.

"This deal allows us to focus on organic growth, as we've been doing, and also opens up the possibility of inorganic growth," Brufau said at an annual meeting of shareholders, who will be asked to approve the YPF settlement. (Reporting by Tracy Rucinski; Editing by Paul Day)