Billionaire Eskenazi Said to Boost Stake in YPF Unit as Soon as Next Month

Argentina’s billionaire Eskenazi family plans to boost its 15.4 percent stake in Repsol YPF SA’s local unit as early as next month to take advantage of falling borrowing costs, a person familiar with the situation said.
The Eskenazis’ Petersen Group will pay about $1.3 billion for an additional 10 percent stake in Buenos Aires-based oil producer YPF, said the person, who declined to be identified because talks are private. Petersen, which has an option until 2012 to increase its stake, will finance 40 percent with its own funds and the remainder through bank loans, the person said.
[Read more]
Source: Bloomberg