YPF Updates On Oil Combustibles S.A. Bankruptcy Proceedings

Instant Max AI

(YPF, 3.Oct.2018) — YPF S.A. received notice of the decision adopted by the judge in charge of Oil Combustibles S.A.’s bankruptcy proceedings, which awarded the industrial assets of the bankrupt company to YPF and Destilería Argentina de Petróleo S.A. (DAPSA), pursuant to the local and international bidding process carried out in connection with the sale of Oil Combustibles S.A.’s assets.

The total price of the transaction amounts to $85,000,000, and such amount will be allocated in a manner to be agreed upon by YPF and DAPSA.

The assets that YPF will acquire, especially the docks and fuel storage tanks located in the Paraná River fluvial terminal, will allow YPF to expand its logistics capacity for future fuel imports and exports, as well as to achieve possible regional expansion.

DAPSA will be in charge of the management and supply of Oil Combustibles S.A.’s gas stations that were part of its commercial network.

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