Spanish major Repsol has all but severed its remaining business ties with Argentina, announcing on Wednesday the sale to Morgan Stanley of an 11.86% minority stake in former affiliate YPF for $1.26 billion. The sale follows a $5 billion settlement with Buenos Aires, approved by Argentina's Congress last month, to compensate Repsol for the government's 2012 nationalization of its 51% YPF stake ( OD Apr.25'14 ).
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