Spanish oil company Repsol (REP.MC) is selling 3.83 percent of Argentine unit YPF (YPFD.BA) to a group of investors for $639 million, or $42.4 dollars per share, about 22 percent below its last closing price. Lazard Asset Management will buy 2.9 percent of YPF, while the remaining shares will be bought by other unnamed investors, the company added in a regulatory filing. At a presentation in February, Repsol said it planned to sell up to 49 percent of YPF as it seeks to focus on less mature markets.
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