| 10/11/99 |
| REPSOL-YPF WILL SELL ITS ASSETS IN THE UNITED KINGDOM AND INDONESIA
|
Repsol-YPF has put out to tender to several
Investment Banks the divestment management for the sale of its assets in the
United Kingdom and Indonesia. This sale will include the company�s
upstream and downstream assets in the aforementioned countries, and forms part
of the programme to finance the acquisition of YPF. Apart from the foregoing, and if current
negotiations have not progressed satisfactorily, next January the bank or banks
winning this tender will be awarded the sale of the Argentine companies Eg3 and
Edenor, and the Crescendo field in the USA. The goal of this financing
programme is to obtain funds of not less than 2.5 billion dollars between this
year and next, thus reducing the level of corporate debt to below 40% by
2002. |