Repsol’s board on Nov. 27 plans to consider an agreement in principle from government representatives of Spain and Argentina concerning Argentina compensating Repsol for 51% of Repsol YPF SA that the government of Argentina expropriated in 2012.
Argentina is offering about $5 billion in bonds as compensation according to various media reports. Repsol issued a short news release on Nov. 25 saying only that its board would consider a possible resolution. No amount was listed in the Repsol news release.
Previously, Repsol filed a complaint with the World Bank arbitration tribunal and sought $10.5 billion in compensation.