The son of Carlos Slim said the entry to YPF “was not a purchase”

 

June 18, 2012

 

The son of Mexican billionaire Carlos Slim said the entry of the group investors that his father leads to YPF “was not a purchase,” but an exercise of “guarantees that were in power” of the Petersen Group’s lenders.

“It was a purchase, but to exercise the guarantees that were held by the banks,” said Carlos Slim child today.

The Mexican explained that it is “a long-term investment in one of the most important companies in the hydrocarbon sector in Latin America.”

“In Argentina, wanted to show this as a purchase from the new scheme [nationalization], but the truth is that we worked on this for four years. It was a purchase,” Slim Domit said.

The employer concluded by saying that YPF “has potential” and defended the investment of 349 million.