REPSOL MAKES $622 M

Spanish oil major Repsol said it will make a $622 million pretax capital gain from the sale of an 11.86 percent stake in Argentine energy group YPF to Morgan Stanley for $1.26 billion.

The shares were sold in the form of American Depositary Shares (ADS), the company said in a regulatory filing on Wednesday.

Following the sale, Repsol's remaining stake in YPF is under 0.5 percent, it said.