CNPC to re-launch $17 billion bid for Repsol-YPF Argentinian unit

摘要

China National Petroleum Corporation (CNPC) reportedly intends to revive a $17 billion bid for Repsol-YPF’s Argentinean subsidiary, following two failed bids in 2007 to buy all of YPF's Latin American assets.CNPC may offer to buy up to 75% of YPF, local media reported yesterday, while competitor, CNOOC, is rumoured to be interested in acquiring a 25% stake in the company. Spain’s Repsol owns 84% of the Buenos Aires-based YPF unit, which reported a 59% drop in net income in Q1 2009.