Spain's Repsol has sold an 11.86 percent stake in Argentina's YPF to Morgan Stanley for $1.26 billion, the oil firm said, exiting the country that seized its majority stake in the now nationalised energy group.The Argentine government expropriated a 51 percent holding in YPF in 2012.Repsol's decision to sell follows final approval from Argentina's Congress last month to pay Repsol $5 billion in bonds to compensate the Spanish oil firm for the seizure.In a regulatory filing on Wednesday, Repsol said it will make a $622 million pretax capital gain from the stake sale, which still leaves Repsol with under 0.5 percent of the Argentinian group.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 2.03% or $-0.61/share to $29.46. In the past year, the shares have traded as low as $23.06 and as high as $33.52. On average, 12742600 shares of MS exchange hands on a given day and today's volume is recorded at 16285597.
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