Repsol sells lubricants business in Brazil to YPF

Argentine oil company YPF has bought 99.99% of the Brazilian lubricants unit of its parent, Spanish oil giant Repsol, for a fixed sum of US$9.8 million plus a variable amount of 36.9 million reais (US$21.78 million). The second sum depends on certain terms established in the recently signed acquisition contract. Repsol has an 83% stake in YPF. (December 14, 2010)