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.