MercoPress. South Atlantic News Agency
YPF second shareholder misses 400 million dollars payment to creditor banks
Argentina's Petersen Group missed a 400 million dollars payment to creditor banks on Wednesday, which could allow them to seize the shares of oil company YPF backing the loan. Read full article
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Disclaimer & comment rulesWell there you go then. Argentine Peterson Group misses $400 million loan payment and that's news to who???? no one except Credit Suisse. Still, no doubt de fault will all be blamed on them.
May 18th, 2012 - 04:48 am - Link - Report abuse 0If the Petersen group can't get any money off their cronies then what chance does a bank have if they take over the shares?
May 18th, 2012 - 07:34 am - Link - Report abuse 0I can't see why anyone would want to invest in YPF shares when there are no dividends and all investment is being put into increasing the supply of Maximo Kirnchner's creamcakes. The only hope of any return is if Maximo eats so many creamcakes he becomes the worlds fattest man and increases tourism revenue.
OOOPS! It's only been five minutes since CFK stole YPF and already the business is sinking. Can she do anything right?
May 18th, 2012 - 08:04 am - Link - Report abuse 03 The Chilean perspective
May 18th, 2012 - 08:59 am - Link - Report abuse 0I am Loving this line “ The Argentine government has said YPF will no longer pay dividends, rather it will reinvest its earnings to boost production.” Like the money is going to go anywhere other than straight into KFC's back pocket!!
and now the the crash crash that is the Argentine economy continues and it's heading KFC's way. Only she is too fat to run, too stupid to hide so it will hit her right in the face!!
Maybe if they can't keep it up their share should be nationalised too
May 18th, 2012 - 11:07 am - Link - Report abuse 0BK - are you not aware of who the Petersen group are or how they came by their holding??
May 18th, 2012 - 11:10 am - Link - Report abuse 0I believe that the Eskenazi familly are also Ashkenazi Jews, same as Ms. Rokjes our sitting President!!!
May 18th, 2012 - 01:38 pm - Link - Report abuse 0I've been doing some light reading regarding the YPF theft. Apparently, the state would purchase a 51% share, with the national government controlling 51% of this package and ten provincial governments receiving the remaining 49%. But then the Petersen Group apparently owns 15% of the stock financed by a loan from Repsol of 1.5 billion euros. And the argie government hasn't paid anything. So who owns what?
May 18th, 2012 - 02:59 pm - Link - Report abuse 0There's a very interesting article in today's Nación: http://www.lanacion.com.ar/1474256-insolito-de-vido-atribuye-la-crisis-de-ypf-a-la-politica-oficial
May 18th, 2012 - 04:22 pm - Link - Report abuse 0De Vido has sent a report to the SEC admitting the culpability of the Argentine Government for the lack of success of YPF.
This is just what Brufau and Rajoy needed. It's going to cost Kretina US$10.5 bn.
I believe that this is more or less correct: CFK took over 51% of the Spanish holding, which was originally over half of the company. The Petersen group has about 25%-26% of the company. This finally worked out to be about 28% for CFK, the same 25%-26% held by Petersen, about 24% for the Spanish, and the remainder by various stockholders; the largest of these holds about 5%.
May 18th, 2012 - 04:32 pm - Link - Report abuse 0@2
May 18th, 2012 - 10:20 pm - Link - Report abuse 0Is it possible that Maximo will turn into an Elephant seal, lie on a beach with his harem and attract tourists that way?
If FatBoy lay down on the sand he would look more like a beached whale, but with only a 1/1000 of the dead whales intelligence.
May 19th, 2012 - 01:16 pm - Link - Report abuse 0Commenting for this story is now closed.
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