The logo of General Electric Co. is pictured at the Global Operations Center in San Pedro Garza Garcia, neighbouring Monterrey, Mexico, May 12, 2017. REUTERS/Daniel Becerril BUENOS AIRES (Reuters) - Argentina’s state-owned oil company YPF SA (YPFD.BA) will sell a 25 percent stake in its electricity generation unit to U.S. industrial conglomerate General Electric Co (GE.N), a source close to the deal told Reuters on Thursday. YPF is also in “advanced talks” to sell an additional 25 percent stake in the unit, called YPF Energia Electrica, to U.S. asset manager Blackstone Group LP (BX.N), said the source, who spoke on the condition of anonymity. News of the deal was reported earlier on Thursday by local newspaper Clarin. Reporting by Juliana Castilla; Writing by Luc CohenEditing by Chizu Nomiyama
Argentine energy group YPF has agreed to sell a 25% stake in its power utility to GE Energy Financial Services. The deal to acquire YPF Energia Electrica requires regulatory approval and is expected to complete in early 2018. YPF is in advanced talks with another company to sell another 25% stake in the power unit. YPF Energia Electrica will invest $1.3bn within the next three years.