Argentina’s YPF Agrees US$430 Million YPF Luz Buyout
YPF's board approved buying the 24.99% of power generator YPF Luz it does not own for US$430 million, taking full control of a tenth of Argentina's supply. The post Argentina’s YPF Agrees US$430 Million YPF Luz Buyout appeared first on The Rio Times .
Argentina's state-owned energy company YPF agreed on Thursday to buy out the remaining 24.99% of YPF Luz, its power generation arm, from its 100% owner. The transaction, valued at US$430 million, will see YPF secure full control of YPF Luz, putting it as Argentina's second-largest renewable generator and leader in long-term private renewable power contracts.
The seller of YPF Luz, BNR Power Investments, is controlled by US-based GE Vernova and China's Silk Road Fund. The purchase is subject to certain conditions precedent, and YPF shares will begin trading on the New York Stock Exchange on 9 October.
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