OTHER NEWS - June 18, 1993

Argentina to Privatize 35% of State Oil Firm: An Argentine regulatory commission has approved domestic sales of shares in the government-owned petroleum corporation, Yacimientos Petroliferos Fiscales, the biggest business in the country and one of Latin America’s major oil companies. The government will also offer shares of YPF in the United States and other countries. Argentina hopes to sell 35% of the company for about $2 billion. Authorities had planned to sell off 51% of YPF, but scaled down the offering.