Renationalization of YPF Renationalization of YPF President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization of YPF, the nation's largest energy firm. The state would purchase a 51% share, with the national government controlling 51% of this package and ten provincial governments receiving the remaining 49%. The bill was overwhelmingly approved by both houses of Congress, and was signed by the president on May 5. The government of Argentina eventually agreed to pay $5 billion in compensation to Repsol, which had previously owned YPF. YPF was founded in 1922 as the first oil company
Repsol of the massive Vaca Muerta shale-gas field. The board of the Repsol firm unanimously rejected this offer, as it would have caused them to drop a $10.5 billion lawsuit that was in progress against the Argentine government. Repsol at the time owned 6.4% of the YPF oil-and-gas company. On 25 February 2014 the Repsol board announced it had accepted a settlement offer from the Argentine government of an issue of Argentine bonds valued at $5 billion. The deal concluded after 3 months of negotiations in Buenos Aires was subject to shareholder approval. The agreement ended two years of legal wrangling