Argentina's Eskenazis Give Up YPF Stock After Nationalization
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Argentina's Eskenazi family confirmed Friday it has relinquished shares of a recently nationalized oil and gas company YPF SA (YPF, YPFD.BA), after the family defaulted on loans.

The family borrowed billions of U.S. dollars to acquire 25.46% of YPF and agreed to repay the loans with YPF dividends, which it lost access to after the nationalization.

Last month, Argentina's government expropriated 51% of YPF from its majority shareholder, Spain's Repsol SA (REP.MC), in a dispute over investment and falling production.

In a YPF filing with the Buenos Aires Stock Exchange, the Eskenazis said they transferred 76.8 million of YPF's American Depository Receipts to creditor banks.

The Eskenazis also ceded voting and other rights of 21.3 million ADRs to Repsol, though the family still has title to the shares, according to the filing.

In 2008, the family's Grupo Petersen holding financed the acquisition


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