Morgan Stanley Buys YPF Stake from Repsol

Repsol of Spain has sold to Morgan Stanley & Co. 11.86% of the share capital of YPF for $1.26 billion, the company said in a statement on Wednesday.

The transaction will generate estimated capital gains before taxes of 622 million dollars, according to the statement.

Following the sale, Repsol will continue to own Class D Shares, including American Depositary Shares representing Class D Shares, amounting to less than 0.5% of the outstanding capital, Repsol added.