Valuation of an Expropriated Company: The Case of YPF and Repsol in Argentina

14 Pages Posted: 17 Nov 2012 Last revised: 2 Jun 2019

See all articles by Pablo Fernandez

Pablo Fernandez

University of Navarra - IESE Business School

Multiple version iconThere are 2 versions of this paper

Date Written: May 28, 2019

Abstract

On April 16, 2012 the Argentine Federal Government decreed the intervention of YPF and expropriated of 51% of the YPF shares owned by Repsol. Repsol had a 57.4% stake. A tribunal will determine the compensation Repsol will receive for its YPF shares. You are required to help the tribunal. What is your best estimation of the compensation that Repsol should receive for its expropriated 51% of YPF shares? The case provides you with information and data to answer that question: transactions of YPF shares, analyst valuations of YPF, share price in the NYSE.

La versión española de este artículo se puede encontrar en: http://ssrn.com/abstract=2183603.

Keywords: valuation, expropriation, Argentina, YPF, Repsol

JEL Classification: G12, G31, M21

Suggested Citation

Fernandez, Pablo, Valuation of an Expropriated Company: The Case of YPF and Repsol in Argentina (May 28, 2019). IESE Business School Working Paper No. WP-1055-E. Available at SSRN: https://ssrn.com/abstract=2176728 or http://dx.doi.org/10.2139/ssrn.2176728

Pablo Fernandez (Contact Author)

University of Navarra - IESE Business School ( email )

Camino del Cerro del Aguila 3
28023 Madrid
Spain
+34 91 357 0809 (Phone)
+34 91 357 2913 (Fax)

HOME PAGE: http://web.iese.edu/PabloFernandez/

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