Argentina's Eskenazi family has exercised its option to buy a further 10 percent in YPF, the Argentine unit of Spanish oil company Repsol (REP.MC), Repsol said on Wednesday. Grupo Petersen, which is controlled by the Eskenazis, will pay $1.3 billion for the stake, as agreed in the details of the call option drawn up over three years ago, Repsol said. Repsol agreed to sell up to 25 percent of YPF to businessman Enrique Eskenazi in December 2007 in a deal valuing the unit at $15 billion. Repsol said at the time it would sell Eskenazi 14.9 percent of its subsidiary for $2.24 billion, with an option to buy another 10.1 percent before February 2012.
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